Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 2.6%

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) fell 2.6% on Monday . The stock traded as low as $38.71 and last traded at $38.75. 11,430,333 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 71,117,438 shares. The stock had previously closed at $39.80.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $9.79 billion, a P/E ratio of 42.92 and a beta of 5.29. The company’s 50 day moving average is $42.87 and its two-hundred day moving average is $32.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 34.9% in the third quarter. AE Wealth Management LLC now owns 12,750 shares of the company’s stock valued at $241,000 after purchasing an additional 3,302 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 7.4% in the third quarter. Commonwealth Equity Services LLC now owns 29,232 shares of the company’s stock valued at $552,000 after acquiring an additional 2,019 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at about $576,000. Stratos Wealth Advisors LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 11.4% during the third quarter. Stratos Wealth Advisors LLC now owns 10,060 shares of the company’s stock worth $190,000 after purchasing an additional 1,032 shares during the period. Finally, Archford Capital Strategies LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 214.3% during the third quarter. Archford Capital Strategies LLC now owns 41,651 shares of the company’s stock worth $786,000 after purchasing an additional 28,397 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.