On September 28, Direxion Daily Semiconductors Bull 3x Shares fell 5.22% in regular trading, trading at 143.25 USD/share, with turnover of approximately $2.285 billion. The decline came after the ETF posted a cumulative weekly gain exceeding 22%, with concentrated profit-taking and short-selling pressure triggering a sharp technical pullback amplified by the fund's triple-leverage mechanism.

On the news front, renowned investor Michael Burry significantly expanded his short bets against the semiconductor sector, adding positions against Micron Technology, Nebius, iShares Semiconductor ETF, and Palantir, describing the scale as substantial. Burry's core thesis centers on his view that the prior memory shortage stemmed from a supply-side misallocation — as Samsung, SK Hynix, and Micron shifted capacity from conventional DRAM to HBM for AI data centers — rather than structural demand growth. He argues normal DRAM output is now recovering, with oversupply risk looming. Separately, a Bank of America survey showed 53% of global fund managers identified long semiconductors as the most crowded trade for the fourth consecutive month, further weighing on sentiment.

The ETF had exhibited a similar pattern in late September, declining 5.62% and 5.33% on consecutive days before stabilizing, underscoring the heightened volatility inherent in leveraged products following sharp rallies.

Direxion Daily Semiconductors Bull 3x Shares invests at least 80% of its net assets in financial instruments providing 3x daily leveraged exposure to a rules-based, modified float-adjusted market-capitalization-weighted index tracking the thirty largest U.S.-listed semiconductor companies. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)