Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 5.9% – Time to Sell?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 5.9% during trading on Friday . The company traded as low as $18.37 and last traded at $18.76. Approximately 30,776,409 shares traded hands during trading, a decline of 61% from the average daily volume of 78,285,475 shares. The stock had previously closed at $19.93.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a market capitalization of $7.81 billion, a PE ratio of 29.25 and a beta of 4.09. The stock’s 50 day moving average is $25.77 and its 200 day moving average is $29.66.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently modified their holdings of SOXL. Morse Asset Management Inc lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the 4th quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock worth $844,000 after purchasing an additional 368 shares in the last quarter. PayPay Securities Corp lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 21.6% in the 4th quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after purchasing an additional 403 shares in the last quarter. Anchor Investment Management LLC lifted its stake 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. Lindbrook Capital LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after purchasing an additional 600 shares in the last quarter. Finally, Visionary Wealth Advisors lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 6.8% in the 4th quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after purchasing an additional 613 shares in the last quarter.

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.