Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 6.6% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares fell 6.6% during mid-day trading on Thursday . The company traded as low as $98.62 and last traded at $99.3430. Approximately 17,566,935 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 72,883,273 shares. The stock had previously closed at $106.35.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a 50-day moving average of $149.41 and a 200 day moving average of $134.39. The firm has a market cap of $18.03 billion, a P/E ratio of 35.63 and a beta of 5.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SOXL. Clay Northam Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at approximately $1,178,000. AlphaGrep UK Ltd acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $517,000. Key Client Fiduciary Advisors LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $474,000. Client First Investment Management LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $4,007,000. Finally, Vigilare Wealth Management acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $498,000.

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.