Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Down 13.2% – Here’s What Happened

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s share price traded down 13.2% during trading on Friday. The company traded as low as $58.68 and last traded at $56.8720. Approximately 47,049,749 shares changed hands during trading, a decline of 42% from the average session volume of 81,472,633 shares. The stock had previously closed at $65.53.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The firm has a market cap of $17.58 billion, a price-to-earnings ratio of 35.63 and a beta of 5.93. The business has a 50-day moving average of $111.37 and a 200-day moving average of $123.52.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alteri Wealth LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the third quarter valued at $209,000. OneAscent Financial Services LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth approximately $218,000. Bogart Wealth LLC increased its position in Direxion Daily Semiconductors Bull 3X ETF by 140,000.0% during the third quarter. Bogart Wealth LLC now owns 1,401 shares of the company’s stock worth $207,000 after buying an additional 1,400 shares during the last quarter. HighTower Advisors LLC bought a new stake in Direxion Daily Semiconductors Bull 3X ETF in the third quarter valued at approximately $2,493,000. Finally, Morse Asset Management Inc lifted its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 82.7% in the third quarter. Morse Asset Management Inc now owns 1,602 shares of the company’s stock valued at $237,000 after buying an additional 725 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3X ETF

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.