Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 7.6% – Should You Sell?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 7.6% on Friday . The company traded as low as $113.15 and last traded at $113.73. 24,792,414 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 73,474,531 shares. The stock had previously closed at $123.05.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a market cap of $18.81 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73. The firm’s 50 day simple moving average is $161.50 and its 200-day simple moving average is $133.14.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently bought and sold shares of the business. Simplex Trading LLC boosted its holdings in shares of 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 worth $51,971,000 after purchasing an additional 354,575 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after purchasing an additional 775,222 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 purchasing an additional 603,324 shares during the last quarter. Group One Trading LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the second 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth 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.

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.