Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 7.5% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price dropped 7.5% during trading on Friday . The company traded as low as $16.42 and last traded at $16.43. Approximately 44,212,621 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 78,849,790 shares. The stock had previously closed at $17.76.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 9.7 %

The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 29.25 and a beta of 4.09. The firm has a 50 day moving average price of $24.69 and a two-hundred day moving average price of $29.32.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

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

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

Hedge funds have recently made changes to their positions in the business. Simplex Trading LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the 4th quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock valued at $27,319,000 after purchasing an additional 235,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at about $27,180,000. TB Alternative Assets Ltd. grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the fourth quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock valued at $17,011,000 after buying an additional 141,941 shares in the last quarter. 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. Finally, Flow Traders U.S. LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the 3rd quarter. Flow Traders U.S. LLC now owns 106,628 shares of the company’s stock worth $3,911,000 after acquiring an additional 25,079 shares in the last quarter.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

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.