Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 11.5% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares were down 11.5% during trading on Friday . The company traded as low as $161.36 and last traded at $164.81. Approximately 19,090,924 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 80,819,148 shares. The stock had previously closed at $186.19.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 35.63 and a beta of 5.55. The business has a fifty day moving average of $87.06 and a 200 day moving average of $63.77.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently made changes to their positions in SOXL. Simplex Trading LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after acquiring an additional 354,575 shares during the last quarter. Jump Financial LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after purchasing an additional 775,222 shares during the period. Tower Research Capital LLC TRC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. Group One Trading LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock worth $20,182,000 after purchasing an additional 319,393 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after purchasing an additional 516,575 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.