Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month Low – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $23.41 and last traded at $23.50, with a volume of 91003267 shares trading hands. The stock had previously closed at $26.29.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 17.3 %

The firm has a 50-day moving average of $28.91 and a two-hundred day moving average of $31.75. The firm has a market capitalization of $6.71 billion, a P/E ratio of 29.74 and a beta of 3.96.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $29,000. Lindbrook Capital LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock valued at $40,000 after acquiring an additional 600 shares in the last quarter. Anchor Investment Management LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 585 shares in the last quarter. PayPay Securities Corp boosted 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 valued at $62,000 after buying an additional 403 shares during the last quarter. Finally, Covestor Ltd grew its holdings 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 buying an additional 889 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.