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

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

Direxion Daily Semiconductors Bull 3x Shares Stock Down 5.2 %

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

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of large investors have recently made changes to their positions in SOXL. Anchor Investment Management LLC lifted its stake in 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 worth $47,000 after acquiring an additional 585 shares during the period. Morse Asset Management Inc lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 88.2% in the third quarter. Morse Asset Management Inc now owns 30,542 shares of the company’s stock worth $1,120,000 after acquiring an additional 14,317 shares during the period. Barclays PLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 57.2% in the third quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after acquiring an additional 8,890 shares during the period. Taika Capital LP purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth about $3,765,000. Finally, HighTower Advisors LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 55.7% in the third quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock worth $335,000 after acquiring an additional 3,263 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.