Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 6.2% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price dropped 6.2% during trading on Friday . The stock traded as low as $25.80 and last traded at $25.98. Approximately 52,017,293 shares were traded during trading, a decline of 35% from the average daily volume of 79,927,398 shares. The stock had previously closed at $27.69.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 4.9 %

The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The firm has a 50 day moving average price of $29.30 and a two-hundred day moving average price of $32.69.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SOXL. Lindbrook Capital LLC increased its holdings 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 buying an additional 600 shares during the last quarter. Anchor Investment Management LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares during the last quarter. PayPay Securities Corp raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the 4th quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock valued at $62,000 after acquiring an additional 403 shares in the last quarter. Covestor Ltd lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% during the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after purchasing an additional 889 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings 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 purchasing an additional 300 shares during the period.

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.