Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 6.2% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares dropped 6.2% during mid-day trading on Wednesday . The company traded as low as $165.33 and last traded at $165.71. 14,799,339 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 74,380,133 shares. The stock had previously closed at $176.66.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a market capitalization of $19.89 billion, a PE ratio of 35.63 and a beta of 5.66. The company has a 50 day moving average price of $209.19 and a 200 day moving average price of $115.96.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth $25,000. Raymond James Financial Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $25,000. Halbert Hargrove Global Advisors LLC lifted its position 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 purchasing an additional 138 shares during the last quarter. Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth about $33,000. Finally, 1248 Management LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares in 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.