Direxion SOXL ETF Faces Significant Outflow Amid Market Shifts
Major Movement Revealed in Semiconductor ETF
Looking at changes in ETF shares over the past week, one notable shift is seen in the Direxion Daily Semiconductor Bull 3X Shares (Symbol: SOXL). This ETF experienced an outflow of approximately $505.2 million, marking a 5.1% decrease in shares outstanding, from 362,850,060 to 344,350,060.
Among SOXL’s largest components, Arm Holdings plc (Symbol: ARM) has increased by about 3.2% today, while ASE Technology Holding Co Ltd (Symbol: ASX) has declined by approximately 0.1%. Entegris Inc (Symbol: ENTG) remains relatively stable. For a detailed list of SOXL’s holdings, please visit the SOXL Holdings page.
The chart above highlights SOXL’s price performance over the past year in relation to its 200-day moving average. Within the last 52 weeks, SOXL reached a low of $23.50 and a high of $70.08, with the most recent trade recorded at $28.08. Comparing the current share price to the 200-day moving average can provide valuable insights for technical analysis.
Exchange-traded funds (ETFs) operate similarly to stocks, with investors purchasing and selling “units” instead of shares. These units can be traded like stocks, but they can also be created or destroyed based on investor demand. Weekly assessments allow us to track changes in shares outstanding, identifying ETFs with notable inflows or outflows. The creation of new units necessitates the purchase of underlying holdings, while the destruction of units involves selling these assets. Thus, significant inflows or outflows can influence the individual stocks within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Additional Resources:
High-Yield Canadian Real Estate Stocks
TAP Historical Stock Prices
PCY Historical Stock Prices
The views and opinions expressed herein are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
