Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 7.5% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price dropped 7.5% during mid-day trading on Friday . The stock traded as low as $16.42 and last traded at $16.43. Approximately 44,212,621 shares changed hands during trading, a decline of 44% from the average daily volume of 78,849,790 shares. The stock had previously closed at $17.76.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s fifty day simple moving average is $25.02 and its 200 day simple moving average is $29.40. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 29.25 and a beta of 4.09.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.0648 dividend. This is a boost from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 40.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock valued at $219,000 after acquiring an additional 2,313 shares in the last quarter. Barclays PLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% in the 3rd quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after purchasing an additional 8,890 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 55.7% in the 3rd quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock valued at $335,000 after purchasing an additional 3,263 shares in the last quarter. Flow Traders U.S. LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the third quarter. Flow Traders U.S. LLC now owns 106,628 shares of the company’s stock worth $3,911,000 after purchasing an additional 25,079 shares during the last quarter. Finally, Taika Capital LP acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth about $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.