Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL – Get Free Report) were down 7% during trading on Friday . The stock traded as low as $28.92 and last traded at $28.6620. Approximately 66,263,740 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 124,859,977 shares. The stock had previously closed at $30.81.
Direxion Daily Semiconductors Bull 3x Shares Trading Up 2.0%
The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The stock’s 50 day moving average is $39.03 and its two-hundred day moving average is $28.73.
Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares
Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at approximately $25,000. Optimum Investment Advisors increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.0% in the second quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock valued at $33,000 after purchasing an additional 1,100 shares during the period. Addison Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $33,000. Quent Capital LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth approximately $71,000. Finally, Spire Wealth Management lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 52.1% during the third quarter. Spire Wealth Management now owns 2,926 shares of the company’s stock worth $102,000 after purchasing an additional 1,002 shares during the period.
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.
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