Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 4.5% – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares fell 4.5% during trading on Wednesday . The stock traded as low as $26.86 and last traded at $26.86. 15,991,555 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 75,294,648 shares. The stock had previously closed at $28.13.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business has a 50 day simple moving average of $33.69 and a 200-day simple moving average of $41.80. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

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

Several institutional investors have recently made changes to their positions in the stock. TB Alternative Assets Ltd. bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at $17,641,000. IMC Chicago LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at $24,699,000. CloudAlpha Capital Management Limited Hong Kong increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock worth $14,049,000 after buying an additional 205,910 shares in the last quarter. Westwood Wealth Management raised its position in Direxion Daily Semiconductors Bull 3x Shares by 4.0% in the 2nd quarter. Westwood Wealth Management now owns 226,970 shares of the company’s stock worth $12,565,000 after buying an additional 8,655 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at about $7,760,000.

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.