Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 6.8% – Should You Sell?

by · The Markets Daily

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL – Get Free Report)’s share price dropped 6.8% during mid-day trading on Friday . The company traded as low as $146.02 and last traded at $146.85. 10,274,207 shares were traded during trading, a decline of 86% from the average session volume of 73,933,125 shares. The stock had previously closed at $157.50.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock’s fifty day simple moving average is $205.77 and its 200-day simple moving average is $121.25. The firm has a market cap of $19.99 billion, a PE ratio of 35.63 and a beta of 5.66.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after purchasing an additional 354,575 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after purchasing an additional 775,222 shares during the period. Tower Research Capital LLC TRC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after buying an additional 603,324 shares during the last quarter. Group One Trading LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 65.9% in the 2nd quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock worth $20,182,000 after buying an additional 319,393 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after buying an additional 516,575 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

(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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