Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 4% – Here’s What Happened

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 4% during trading on Friday . The company traded as low as $33.48 and last traded at $33.52. Approximately 28,446,400 shares traded hands during trading, a decline of 59% from the average daily volume of 69,250,133 shares. The stock had previously closed at $34.92.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock’s 50-day moving average price is $29.35 and its 200-day moving average price is $34.99. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. KG&L Capital Management LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 209.3% during the fourth quarter. KG&L Capital Management LLC now owns 19,423 shares of the company’s stock worth $530,000 after buying an additional 13,143 shares in the last quarter. TB Alternative Assets Ltd. grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after acquiring an additional 141,941 shares during the period. Anchor Investment Management LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares during the last quarter. Morse Asset Management Inc boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 88.2% during the third quarter. Morse Asset Management Inc now owns 30,542 shares of the company’s stock worth $1,120,000 after purchasing an additional 14,317 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% in the third quarter. Barclays PLC now owns 24,421 shares of the company’s stock valued at $896,000 after purchasing an additional 8,890 shares during the period.

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.