Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 4% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares traded down 4% during mid-day trading on Wednesday . The company traded as low as $26.61 and last traded at $26.73. 16,395,855 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 75,251,609 shares. The stock had previously closed at $27.85.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company’s fifty day simple moving average is $33.92 and its two-hundred day simple moving average is $42.03. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SOXL. Anchor Investment Management LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after purchasing an additional 585 shares during the period. Covestor Ltd boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% during the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after acquiring an additional 889 shares during the period. Signaturefd LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after acquiring an additional 300 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth about $106,000. Finally, Hollencrest Capital Management increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after acquiring an additional 2,863 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.