Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 7.5% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 7.5% during trading on Friday . The company traded as low as $16.42 and last traded at $16.43. Approximately 44,212,621 shares were traded during trading, a decline of 44% from the average daily volume of 78,849,790 shares. The stock had previously closed at $17.76.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 29.25 and a beta of 4.09. The business’s 50-day moving average price is $24.69 and its two-hundred day moving average price is $29.32.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a $0.0648 dividend. The ex-dividend date is Tuesday, March 25th. This is an increase from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

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

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 40.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock worth $219,000 after buying an additional 2,313 shares during the period. Barclays PLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% during the 3rd quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after acquiring an additional 8,890 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 55.7% during the 3rd quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock worth $335,000 after acquiring an additional 3,263 shares during the period. Flow Traders U.S. LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the third quarter. Flow Traders U.S. LLC now owns 106,628 shares of the company’s stock worth $3,911,000 after acquiring an additional 25,079 shares during the last quarter. Finally, Taika Capital LP acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth approximately $3,765,000.

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.