Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 4.5% – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 4.5% on Wednesday . The stock traded as low as $26.86 and last traded at $26.86. Approximately 15,991,555 shares were traded during trading, a decline of 79% from the average daily volume of 75,294,648 shares. The stock had previously closed at $28.13.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company’s 50-day moving average price is $33.69 and its 200 day moving average price is $41.80. The stock has a market cap of $7.20 billion, a PE ratio of 37.08 and a beta of 5.47.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC lifted its holdings in 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 worth $47,000 after purchasing an additional 585 shares in the last quarter. Covestor Ltd lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after purchasing an additional 889 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after purchasing an additional 300 shares during the last quarter. Bogart Wealth LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at about $106,000. Finally, Hollencrest Capital Management increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after purchasing an additional 2,863 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.