Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 3.4% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares dropped 3.4% during mid-day trading on Friday . The company traded as low as $29.45 and last traded at $29.53. Approximately 11,642,058 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 75,073,906 shares. The stock had previously closed at $30.57.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The company’s 50 day simple moving average is $30.57 and its 200 day simple moving average is $38.61.

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

A number of institutional investors have recently added to or reduced their stakes in SOXL. Creative Planning bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth $216,000. Prime Capital Investment Advisors LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 14.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock worth $302,000 after acquiring an additional 1,018 shares during the period. HighTower Advisors LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 55.7% during the third quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock worth $335,000 after acquiring an additional 3,263 shares during the period. Signaturefd LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after acquiring an additional 300 shares in the last quarter. Finally, Campbell Capital Management Inc. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at about $1,064,000.

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.