Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 10% – What’s Next?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) fell 10% during trading on Monday . The stock traded as low as $18.92 and last traded at $18.79. 29,183,387 shares changed hands during trading, a decline of 65% from the average session volume of 83,395,398 shares. The stock had previously closed at $20.88.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company’s 50-day simple moving average is $27.38 and its 200 day simple moving average is $30.57. The firm has a market cap of $5.37 billion, a P/E ratio of 29.74 and a beta of 3.96.

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

Several institutional investors have recently bought and sold shares of SOXL. Barclays PLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% in the third quarter. Barclays PLC now owns 24,421 shares of the company’s stock valued at $896,000 after acquiring an additional 8,890 shares during the period. Prime Capital Investment Advisors LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 14.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock valued at $302,000 after acquiring an additional 1,018 shares during the period. HighTower Advisors LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 55.7% in the third quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock valued at $335,000 after acquiring an additional 3,263 shares during the period. Flow Traders U.S. LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the third quarter. Flow Traders U.S. LLC now owns 106,628 shares of the company’s stock valued at $3,911,000 after acquiring an additional 25,079 shares during the period. Finally, Verus Capital Partners LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 35.9% in the third quarter. Verus Capital Partners LLC now owns 9,633 shares of the company’s stock valued at $353,000 after acquiring an additional 2,545 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.