Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 14.1% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares dropped 14.1% on Friday . The stock traded as low as $214.41 and last traded at $217.01. 12,504,167 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 76,239,375 shares. The stock had previously closed at $252.61.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock’s 50 day moving average is $186.61 and its 200 day moving average is $101.91. The company has a market capitalization of $29.83 billion, a PE ratio of 35.63 and a beta of 5.70.

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

Large investors have recently made changes to their positions in the stock. Simplex Trading LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% in the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after purchasing an additional 354,575 shares in the last quarter. Jump Financial LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after purchasing an additional 775,222 shares during the period. Tower Research Capital LLC TRC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares during the period. Group One Trading LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the 2nd quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after buying an additional 319,393 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after buying an additional 516,575 shares in the last quarter.

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.