Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sets New 52-Week Low – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week low on Saturday . The company traded as low as $15.74 and last traded at $16.03, with a volume of 137534212 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’s 50-day moving average is $24.69 and its 200 day moving average is $29.30.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a $0.0648 dividend. This is a positive change from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in Direxion Daily Semiconductors Bull 3x Shares by 40.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock valued at $219,000 after buying an additional 2,313 shares during the last quarter. Barclays PLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% in the 3rd quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after acquiring an additional 8,890 shares in the last quarter. HighTower Advisors LLC raised its holdings 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 purchasing an additional 3,263 shares during the last quarter. Taika Capital LP purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at about $3,765,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at about $29,000.

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.