Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 7% – Time to Sell?

by · The Cerbat Gem

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL – Get Free Report)’s share price dropped 7% on Wednesday . The company traded as low as $209.99 and last traded at $210.00. Approximately 37,201,995 shares changed hands during trading, a decline of 53% from the average daily volume of 79,648,375 shares. The stock had previously closed at $225.79.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 6.0%

The stock’s fifty day moving average is $107.10 and its two-hundred day moving average is $71.16. The firm has a market cap of $28.77 billion, a P/E ratio of 35.63 and a beta of 5.55.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $25,000. Raymond James Financial Inc. purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after acquiring an additional 138 shares in the last quarter. Addison Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth $33,000. Finally, Western Wealth Management LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth $33,000.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

(Get Free Report)

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.

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