Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 9.2% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) fell 9.2% during mid-day trading on Thursday . The company traded as low as $39.34 and last traded at $39.6810. 52,740,457 shares changed hands during trading, a decline of 58% from the average session volume of 124,256,188 shares. The stock had previously closed at $43.71.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 9.7%

The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The stock’s fifty day moving average price is $37.99 and its 200-day moving average price is $27.85.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at about $25,000. Optimum Investment Advisors lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 550.0% during the 2nd quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock worth $33,000 after acquiring an additional 1,100 shares in the last quarter. Addison Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at about $33,000. Quent Capital LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $71,000. Finally, Signaturefd LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 50.0% during the first quarter. Signaturefd LLC now owns 4,500 shares of the company’s stock worth $72,000 after purchasing an additional 1,500 shares in 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.