Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 9.5% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares fell 9.5% during mid-day trading on Monday . The stock traded as low as $31.89 and last traded at $32.05. 29,852,514 shares were traded during mid-day trading, a decline of 60% from the average session volume of 75,080,875 shares. The stock had previously closed at $35.41.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market capitalization of $8.60 billion, a P/E ratio of 37.08 and a beta of 5.47. The stock’s fifty day simple moving average is $34.19 and its 200 day simple moving average is $42.66.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. TB Alternative Assets Ltd. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at about $17,641,000. IMC Chicago LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $24,699,000. CloudAlpha Capital Management Limited Hong Kong increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 116.3% during the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock valued at $14,049,000 after acquiring an additional 205,910 shares in the last quarter. Westwood Wealth Management raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 4.0% in the 2nd quarter. Westwood Wealth Management now owns 226,970 shares of the company’s stock valued at $12,565,000 after purchasing an additional 8,655 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at approximately $7,760,000.

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.