Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 6.1% – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price were down 6.1% during trading on Thursday . The stock traded as low as $28.88 and last traded at $29.01. Approximately 46,237,371 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 75,356,313 shares. The stock had previously closed at $30.88.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 5.4 %

The stock has a market capitalization of $7.92 billion, a P/E ratio of 37.08 and a beta of 5.47. The company’s fifty day simple moving average is $33.05 and its 200 day simple moving average is $41.16.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently added to or reduced their stakes in SOXL. Creative Planning bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $216,000. Prime Capital Investment Advisors LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 14.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock worth $302,000 after acquiring an additional 1,018 shares in the last quarter. Signaturefd LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after acquiring an additional 300 shares in the last quarter. Campbell Capital Management Inc. bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $1,064,000. Finally, Avaii Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $525,000.

About Direxion Daily Semiconductors Bull 3x Shares

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.