Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Down 10.1% – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) traded down 10.1% during trading on Monday. The stock traded as low as $70.71 and last traded at $69.2750. Approximately 98,625,092 shares changed hands during mid-day trading, an increase of 33% from the average session volume of 74,331,477 shares. The stock had previously closed at $77.05.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The stock has a market capitalization of $15.82 billion, a PE ratio of 35.63 and a beta of 5.93. The stock’s 50 day simple moving average is $118.28 and its two-hundred day simple moving average is $123.71.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Institutional investors have recently bought and sold shares of the company. Simplex Trading LLC bought a new position in Direxion Daily Semiconductors Bull 3X ETF during the third quarter valued at $29,328,000. RHL Group LLC purchased a new stake in Direxion Daily Semiconductors Bull 3X ETF in the third quarter worth $227,000. Crosspoint Financial LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 28.5% in the third quarter. Crosspoint Financial LLC now owns 1,808 shares of the company’s stock valued at $267,000 after buying an additional 401 shares during the period. M Holdings Securities Inc. raised its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 4.5% in the third quarter. M Holdings Securities Inc. now owns 47,601 shares of the company’s stock valued at $7,038,000 after buying an additional 2,048 shares during the period. Finally, Brighton Jones LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 30.0% in the third quarter. Brighton Jones LLC now owns 6,026 shares of the company’s stock valued at $891,000 after buying an additional 1,391 shares during the period.

Direxion Daily Semiconductors Bull 3X ETF 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.