Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 5.9% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price traded down 5.9% on Friday . The stock traded as low as $18.37 and last traded at $18.76. 30,776,409 shares traded hands during trading, a decline of 61% from the average session volume of 78,285,475 shares. The stock had previously closed at $19.93.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market capitalization of $7.80 billion, a P/E ratio of 29.25 and a beta of 4.09. The firm has a 50-day moving average price of $25.95 and a two-hundred day moving average price of $29.80.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at about $29,000. Copia Wealth Management purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at about $36,000. Lindbrook Capital LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock valued at $40,000 after purchasing an additional 600 shares during the last quarter. Anchor Investment Management LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after purchasing an additional 585 shares during the last quarter. Finally, PayPay Securities Corp grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 21.6% in the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock valued at $62,000 after purchasing an additional 403 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

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.