Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 4% – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) traded down 4% during mid-day trading on Wednesday . The stock traded as low as $26.61 and last traded at $26.73. 16,395,855 shares were traded during trading, a decline of 78% from the average session volume of 75,251,609 shares. The stock had previously closed at $27.85.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market capitalization of $7.72 billion, a P/E ratio of 37.08 and a beta of 5.47. The business has a fifty day moving average of $33.92 and a 200-day moving average of $42.03.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently modified their holdings of SOXL. Anchor Investment Management LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after buying an additional 585 shares during the period. Covestor Ltd boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after acquiring an additional 889 shares in the last quarter. Signaturefd LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after acquiring an additional 300 shares during the period. Bogart Wealth LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth approximately $106,000. Finally, Hollencrest Capital Management lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after purchasing an additional 2,863 shares during the period.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) is an exchange-traded fund that is based on the ICE Semiconductor index. The fund provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL was launched on Mar 11, 2010 and is managed by Direxion.