SOXL Fell 20.5% Thursday After Record $6.1 Billion in Inflows Last Week
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Direxion’s SOXL fell 20.5% Thursday after taking in a record $6.1 billion last week, extending an October slide that has left the leveraged semiconductor fund down more than 43%. Inflows continued through Thursday even as SOXL’s price sank. The ETF has lost 10.8% this week and is on a three-week losing streak. Thursday’s decline was its steepest since June 23. The unleveraged iShares Semiconductor ETF (SOXX) dropped 6.8% Thursday, and its October decline was about 15.9%. SOXL uses derivatives to seek three times the daily return of a semiconductor index, amplifying moves in both directions.
Source: TokenPost
