Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 3.4% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 3.4% during mid-day trading on Friday . The stock traded as low as $29.45 and last traded at $29.53. Approximately 11,642,058 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 75,073,906 shares. The stock had previously closed at $30.57.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 2.9 %

The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The stock has a 50-day moving average of $30.57 and a 200-day moving average of $38.61.

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

Hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after buying an additional 585 shares during the last quarter. Covestor Ltd increased its position 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 valued at $65,000 after acquiring an additional 889 shares during the period. Signaturefd LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after acquiring an additional 300 shares during the period. Bogart Wealth LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at $106,000. Finally, Hollencrest Capital Management boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after acquiring an additional 2,863 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.