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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price fell 5.9% during mid-day trading on Friday . The stock traded as low as $18.37 and last traded at $18.76. 30,776,409 shares traded hands during mid-day 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 Stock Performance

The company’s fifty day moving average is $25.95 and its 200-day moving average is $29.80. The company has a market capitalization of $7.80 billion, a PE ratio of 29.25 and a beta of 4.09.

Institutional Inflows and Outflows

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

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.