Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 9% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) fell 9% during trading on Tuesday . The stock traded as low as $247.86 and last traded at $248.00. 21,845,933 shares were traded during mid-day trading, a decline of 72% from the average session volume of 77,698,156 shares. The stock had previously closed at $272.50.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 8.9%

The company has a 50 day moving average price of $156.87 and a 200 day moving average price of $90.01. The company has a market capitalization of $33.66 billion, a price-to-earnings ratio of 35.63 and a beta of 5.70.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $25,000. Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $33,000. St. Johns Investment Management Company LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $38,000. Finally, 1248 Management LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the period.

About Direxion Daily Semiconductors Bull 3x Shares

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) is an exchange-traded fund that is based on the ICE Semiconductor index. The fund provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL was launched on Mar 11, 2010 and is managed by Direxion.