Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 6.1% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares dropped 6.1% during mid-day trading on Monday . The stock traded as low as $117.79 and last traded at $120.51. Approximately 26,236,175 shares changed hands during trading, a decline of 69% from the average daily volume of 84,444,922 shares. The stock had previously closed at $128.32.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a market cap of $17.33 billion, a P/E ratio of 35.63 and a beta of 4.55. The firm has a 50 day moving average price of $65.62 and a 200-day moving average price of $54.12.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently made changes to their positions in SOXL. Pin Oak Investment Advisors Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth about $25,000. Raymond James Financial Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth about $25,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares during the last quarter. Addison Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth about $33,000. Finally, 1248 Management LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter.

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.