Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 17.8% – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 17.8% during mid-day trading on Thursday . The company traded as low as $13.52 and last traded at $13.36. Approximately 46,995,578 shares changed hands during trading, a decline of 41% from the average daily volume of 80,003,822 shares. The stock had previously closed at $16.26.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 23.5 %

The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11. The company has a 50 day simple moving average of $22.68 and a 200 day simple moving average of $28.69.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were given a dividend of $0.0648 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth about $27,180,000. BNP Paribas Financial Markets raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% during the 4th quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $8,193,000 after buying an additional 299,744 shares during the period. Simplex Trading LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the 4th quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after acquiring an additional 235,607 shares in the last quarter. TB Alternative Assets Ltd. boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after acquiring an additional 141,941 shares during the period. Finally, Taika Capital LP acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $3,765,000.

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.