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Asset Summary

Daily Performance Report for SOXL ETF: Dec 9, 2024

Summary: The day started with SOXL ETF opening at $29.86 and closing at $29.18. The ETF showed weakness throughout the day, with the highest price observed at $30.32 and the lowest at $28.61. The underlying asset had a trading range of $1.71 Overall, it was a negative trading day for SOXL ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-0.68 or -2.28% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for SOXL ETF was 54,897,451 units during Dec 9, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $29.86.

Highest Price: The highest price observed during the day was $30.32.

Lowest Price: The lowest price observed during the day was $28.61.

Closing Price: The day ended at $29.18.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

SOXL is managed by Direxion. The fund uses leverage to amplify the daily returns of the PHLX Semiconductor Sector Index. It employs financial instruments such as futures contracts, swaps, and options to achieve this leverage.

Yes, SOXL can be held in retirement accounts such as IRAs or 401(k)s. However, due to its leveraged nature, it is generally more suited for short-term trading rather than long-term retirement investing.

The liquidity of SOXL is indicated by its average trading volume and bid-ask spread. High trading volumes generally suggest better liquidity and lower trading costs.

SOXL can be purchased through brokerage accounts, similar to other ETFs. It is listed on major stock exchanges under the ticker symbol "SOXL" and can be traded during regular market hours.

Risks include the potential for amplified losses due to its leveraged nature, high volatility, and the possibility of tracking error. SOXL is suitable for short-term trading rather than long-term investing due to the effects of compounding and daily rebalancing.

SOXL typically distributes dividends on a quarterly basis. These dividends are derived from income earned by the underlying securities in the fund.

Similar leveraged ETFs include: SMH (VanEck Vectors Semiconductor ETF): Provides exposure to the semiconductor sector without leverage. SOXS (Direxion Daily Semiconductor Bear 3X Shares): Provides -3x the daily performance of the PHLX Semiconductor Sector Index. TQQQ (ProShares UltraPro QQQ): Provides 3x the daily performance of the NASDAQ-100 Index.

Key performance metrics for SOXL include its daily return performance relative to the PHLX Semiconductor Sector Index, its leverage factor of 3x, expense ratio, and tracking error. Performance should be evaluated on a daily basis due to its leveraged nature.

Factors include the volatility of the semiconductor sector, changes in the PHLX Semiconductor Sector Index, the effectiveness of the leverage strategy, and market conditions. Leverage can magnify both gains and losses.

Historical performance data for SOXL includes its daily returns, volatility, and comparison to the PHLX Semiconductor Sector Index. Due to its leverage, performance should be evaluated with a focus on short-term periods.

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