Latest news with #SOXL
Yahoo
12-05-2025
- Business
- Yahoo
Traders Dumped Levered Semiconductor Funds Just Before 24% Surge
(Bloomberg) — ETF investors exited bullish bets on semiconductors last week, just before the sector staged one of its sharpest one-day rebounds in months as Wall Street cheers a US-China trade truce. A New Central Park Amenity, Tailored to Its East Harlem Neighbors As Trump Reshapes Housing Policy, Renters Face Rollback of Rights What's Behind the Rise in Serious Injuries on New York City's Streets? NYC Warns of 17% Drop in Foreign Tourists Due to Trump Policies LA Mayor Credits Trump on Fire Aid, Stays Wary on Immigration More than $340 million fled the Direxion Daily Semiconductors Bull 3x Shares (ticker SOXL), which offers triple-leveraged exposure to the industry, during the week ended Friday. That outflow — which marks SOXL's third straight week of money rushing out — came just ahead of a 24% surge for the fund on Monday. The VanEck Semiconductor fund (SMH) also saw roughly $485 million in outflows last week, the most since the end of January, data compiled by Bloomberg show. The ill-timed withdrawals come as US and Chinese officials announced plans to reduce tariffs for 90 days to defuse economic tensions between the two countries. Now, traders are unleashing bullish wagers across sectors caught up in the trade fallout, sparking a dramatic turnaround in fast-money positioning. Risk assets gained at the start of the week after US and Chinese representatives said that they would temporarily lower tariffs to de-escalate the trade war, with President Donald Trump adding that he'd likely speak with Chinese leader Xi Jinping later this week. Deutsche Bank strategists said the announcements on tariffs were much better than they — and the market — had been expecting. The S&P 500 rose as much as 3.2% Monday, while the tech-heavy Nasdaq 100 added 4% at one point. The Philadelphia Semiconductor Index spiked 7.6%. SOXL is one of a slew of leveraged ETFs that offer amplified exposure to popular investment themes, with Monday's sharp moves underscoring the risks and rewards inherent in the trading instrument. Among the stocks driving SOXL is Taiwan Semiconductor Manufacturing Co., whose revenue rose 48% last month. Analysts said the firm — among others — rushed to acquire components before tariffs kicked in. 'Even though the monthly sales from Taiwan Semiconductor were good last week, a lot of investors thought it was just front-end loading before the tariffs set in. Yes, they knew the eventual tariffs would not be 145%, but they did not expect to see them fall this much so quickly,' said Matt Maley, chief market strategist at Miller Tabak + Co. US Border Towns Are Being Ravaged by Canada's Furious Boycott The Recession Chatter Is Getting Louder. Watch These Metrics How the Lizard King Built a Reptile Empire Selling $50,000 Geckos Maybe AI Slop Is Killing the Internet, After All With the New York Liberty, Clara Wu Tsai Aims for the First $1 Billion Women's Sports Franchise ©2025 Bloomberg L.P.
Bloomberg
12-05-2025
- Business
- Bloomberg
Traders Dumped Levered Semiconductor Funds Just Before 24% Surge
ETF investors exited bullish bets on semiconductors last week, just before the sector staged one of its sharpest one-day rebounds in months as Wall Street cheers a US-China trade truce. More than $340 million fled the Direxion Daily Semiconductors Bull 3x Shares (ticker SOXL), which offers triple-leveraged exposure to the industry, during the week ended Friday. That outflow — which marks SOXL's third straight week of money rushing out — came just ahead of a 24% surge for the fund on Monday. The VanEck Semiconductor fund (SMH) also saw roughly $485 million in outflows last week, the most since the end of January, data compiled by Bloomberg show.
Yahoo
03-04-2025
- Business
- Yahoo
Direxion Names ex-RayJay Exec as New Chief Product Officer
Direxion, the $39 billion asset manager known for its leveraged and inverse ETFs, has named Mo Sparks, most recently Raymond James Investment Management's ETF chief, as chief product officer to oversee its products arm. Sparks, who began March 24, is filling a new role at Direxion. He departs Raymond James after eight months, just a few months after the financial services firm filed to launch its first exchange-traded funds. The New York Stock Exchange and Vanguard Group veteran joins Direxion as the U.S. ETF industry grows rapidly, reaching more than $10 trillion in assets in more than 4,000 funds. The market is also increasingly crowded and diverse, and product departments are pressured to find new and innovative funds that stand out from the pack and bring in new investors. Sparks, based in the company's Boston office, said he aims to 'capitalize on the company's leadership' in leveraged and inverse ETFs. He emphasized he'll focus on investor education regarding those investments, which issuers and advisors typically caution are for use by sophisticated investors and not typical investors with buy-and-hold strategies. 'We're leading with investor education so individuals know what they are getting,' he said in an interview. 'Our products are not for all investors.' Sparks's hiring follows the November appointment of Doug Yones as New York-based Direxion's chief executive officer. Both Yones and Sparks are veterans of the NYSE and Vanguard, the world's second-largest ETF issuer. He's a Certified ETF Advisor and Clemson University graduate, according to a press statement. He said his parting with Raymond James was amicable and declined to provide details. The company last month filed to launch 71 exchange-traded funds, including so-called single-stock ETFs tracking companies like Roblox Corp. (RBLX), PayPal Holdings Inc. (PYPL) and Shopify Inc. (SHOP), Bloomberg reported. Direxion manages 103 ETFs. Its largest is the $7.1 billion Direxion Daily Semiconductor Bull 3x Shares (SOXL), one of the most actively-traded funds. It's launched six ETFs so far this year, after launching 20 in | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
01-04-2025
- Business
- Yahoo
Direxion Names ex-RayJay Exec as New Chief Product Officer
Direxion, the $39 billion asset manager known for its leveraged and inverse ETFs, has named Mo Sparks, most recently Raymond James Investment Management's ETF chief, as chief product officer to oversee its products arm. Sparks, who began March 24, is filling a new role at Direxion. He departs Raymond James after eight months, just a few months after the financial services firm filed to launch its first exchange-traded funds. The New York Stock Exchange and Vanguard Group veteran joins Direxion as the U.S. ETF industry grows rapidly, reaching more than $10 trillion in assets in more than 4,000 funds. The market is also increasingly crowded and diverse, and product departments are pressured to find new and innovative funds that stand out from the pack and bring in new investors. Sparks, based in the company's Boston office, said he aims to 'capitalize on the company's leadership' in leveraged and inverse ETFs. He emphasized he'll focus on investor education regarding those investments, which issuers and advisors typically caution are for use by sophisticated investors and not typical investors with buy-and-hold strategies. 'We're leading with investor education so individuals know what they are getting,' he said in an interview. 'Our products are not for all investors.' Sparks's hiring follows the November appointment of Doug Yones as New York-based Direxion's chief executive officer. Both Yones and Sparks are veterans of the NYSE and Vanguard, the world's second-largest ETF issuer. He's a Certified ETF Advisor and Clemson University graduate, according to a press statement. He said his parting with Raymond James was amicable and declined to provide details. The company last month filed to launch 71 exchange-traded funds, including so-called single-stock ETFs tracking companies like Roblox Corp. (RBLX), PayPal Holdings Inc. (PYPL) and Shopify Inc. (SHOP), Bloomberg reported. Direxion manages 103 ETFs. Its largest is the $7.1 billion Direxion Daily Semiconductor Bull 3x Shares (SOXL), one of the most actively-traded funds. It's launched six ETFs so far this year, after launching 20 in | © Copyright 2025 All rights reserved Sign in to access your portfolio
Bloomberg
31-01-2025
- Business
- Bloomberg
Investors Still Can't Get Enough of US Tech Stocks
Dip buyers in the world of exchange-traded funds are keeping the faith, brushing off AI-related fears that battered markets from New York to Tokyo at the start of the week. The insatiable buying demand is on full display in famous funds like QQQ, the biggest ETF tracking the Nasdaq 100. Even as the tech-heavy gauge fell nearly 3% Monday, QQQ notched its biggest one-day inflow since 2021 with more than $4.3 billion. A triple-leveraged semiconductor ETF known as SOXL also witnessed the biggest daily intake in at least five months.
