Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 10% – Here’s What Happened

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) fell 10% on Monday . The company traded as low as $18.92 and last traded at $18.79. Approximately 29,183,387 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 83,395,398 shares. The stock had previously closed at $20.88.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 16.6 %

The business has a 50 day moving average price of $27.78 and a 200-day moving average price of $30.87. The company has a market cap of $5.37 billion, a P/E ratio of 29.74 and a beta of 3.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morse Asset Management Inc raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the fourth quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock valued at $844,000 after purchasing an additional 368 shares during the period. PayPay Securities Corp boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after acquiring an additional 403 shares during the period. Anchor Investment Management LLC grew 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 purchasing an additional 585 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 70.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after purchasing an additional 600 shares during the last quarter. Finally, Visionary Wealth Advisors boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 6.8% in the 4th quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock valued at $263,000 after purchasing an additional 613 shares during the period.

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.