Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 6.8% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price were down 6.8% during mid-day trading on Friday . The company traded as low as $146.02 and last traded at $146.85. Approximately 10,274,207 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 73,933,125 shares. The stock had previously closed at $157.50.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $18.66 billion, a P/E ratio of 35.63 and a beta of 5.66. The firm’s 50-day moving average price is $205.22 and its 200 day moving average price is $121.35.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the period. Verus Capital Partners LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.7% during the 4th quarter. Verus Capital Partners LLC now owns 11,774 shares of the company’s stock worth $495,000 after purchasing an additional 200 shares during the period. 1248 Management LLC increased its holdings 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 period. SteelPeak Wealth LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after buying an additional 266 shares during the last quarter. Finally, Kaizen Financial Strategies raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 4.6% during the first quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock valued at $381,000 after buying an additional 350 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.