Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 9.6% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price traded down 9.6% during trading on Friday . The company traded as low as $49.34 and last traded at $49.56. 74,025,556 shares were traded during mid-day trading, a decline of 11% from the average session volume of 82,964,930 shares. The stock had previously closed at $54.85.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company’s 50-day moving average price is $60.18 and its two-hundred day moving average price is $47.05. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Large investors have recently bought and sold shares of the business. Simplex Trading LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% in 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 period. Jump Financial LLC grew its stake in 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 grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares during the period. Group One Trading LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 65.9% in the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock worth $20,182,000 after purchasing an additional 319,393 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after purchasing an additional 516,575 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.