Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Down 11.6% – Should You Sell?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price was down 11.6% during mid-day trading on Thursday. The company traded as low as $89.35 and last traded at $91.3010. Approximately 35,087,974 shares were traded during trading, a decline of 51% from the average session volume of 72,334,477 shares. The stock had previously closed at $103.24.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The firm has a market cap of $15.42 billion, a price-to-earnings ratio of 35.63 and a beta of 5.75. The stock has a 50-day moving average of $126.81 and a 200-day moving average of $152.09.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Several hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the first quarter worth $33,000. St. Johns Investment Management Company LLC acquired a new stake in Direxion Daily Semiconductors Bull 3X ETF in the 1st quarter valued at $38,000. SHP Wealth Management bought a new stake in Direxion Daily Semiconductors Bull 3X ETF during the 4th quarter worth about $57,000. Anchor Investment Management LLC bought a new stake in Direxion Daily Semiconductors Bull 3X ETF during the 2nd quarter worth about $107,000. Finally, Serenity Investment Advisors bought a new stake in Direxion Daily Semiconductors Bull 3X ETF during the 1st quarter worth about $116,000.

Direxion Daily Semiconductors Bull 3X ETF 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.