Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 8.5% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price were down 8.5% during mid-day trading on Friday . The stock traded as low as $27.46 and last traded at $27.62. Approximately 47,458,060 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 73,436,844 shares. The stock had previously closed at $30.18.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 5.2 %

The company’s 50 day moving average is $29.64 and its 200-day moving average is $36.76. The company has a market capitalization of $7.75 billion, a P/E ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors and hedge funds have recently bought and sold shares of SOXL. TB Alternative Assets Ltd. bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at about $17,641,000. CloudAlpha Capital Management Limited Hong Kong grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock worth $14,049,000 after acquiring an additional 205,910 shares during the period. Virtu Financial LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth approximately $7,760,000. International Assets Investment Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $3,781,000. Finally, Taika Capital LP bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $3,765,000.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

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.