Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 4.5% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares fell 4.5% during trading on Wednesday . The company traded as low as $26.86 and last traded at $26.86. 15,991,555 shares were traded during mid-day trading, a decline of 79% from the average session volume of 75,294,648 shares. The stock had previously closed at $28.13.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a fifty day moving average of $33.44 and a 200 day moving average of $41.60. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXL. Anchor Investment Management LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after buying an additional 585 shares in the last quarter. Covestor Ltd increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after acquiring an additional 889 shares in the last quarter. Signaturefd LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after acquiring an additional 300 shares during the period. Bogart Wealth LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at $106,000. Finally, Hollencrest Capital Management lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock valued at $109,000 after purchasing an additional 2,863 shares in the last quarter.

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.