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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price were down 7% on Wednesday . The company traded as low as $209.99 and last traded at $210.00. Approximately 37,201,995 shares were traded during mid-day 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 company has a 50-day moving average of $107.10 and a 200-day moving average of $71.16. The company has a market capitalization of $28.77 billion, a price-to-earnings ratio of 35.63 and a beta of 5.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SOXL. Halbert Hargrove Global Advisors LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after buying an additional 138 shares during the period. Verus Capital Partners LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.7% in the fourth quarter. Verus Capital Partners LLC now owns 11,774 shares of the company’s stock worth $495,000 after purchasing an additional 200 shares during the last quarter. 1248 Management LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the period. SteelPeak Wealth LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after buying an additional 266 shares during the last quarter. Finally, Kaizen Financial Strategies increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 4.6% in the 1st quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock worth $381,000 after buying an additional 350 shares during the period.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

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.