Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Down 10.4% – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) dropped 10.4% during trading on Thursday . The company traded as low as $193.96 and last traded at $195.01. Approximately 33,317,559 shares traded hands during trading, a decline of 56% from the average daily volume of 75,525,906 shares. The stock had previously closed at $217.55.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm’s fifty day moving average price is $201.22 and its two-hundred day moving average price is $108.63. The stock has a market capitalization of $21.47 billion, a PE ratio of 35.63 and a beta of 5.66.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Optiver Holding B.V. grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 831.0% during the 1st quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after acquiring an additional 251,587 shares during the period. Serenity Investment Advisors purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth approximately $116,000. Vestor Capital LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 70.0% during the first quarter. Vestor Capital LLC now owns 4,326 shares of the company’s stock worth $207,000 after purchasing an additional 1,782 shares in the last quarter. Western Wealth Management LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at approximately $33,000. Finally, Lido Advisors LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 120.6% in the first quarter. Lido Advisors LLC now owns 13,079 shares of the company’s stock valued at $627,000 after purchasing an additional 7,150 shares during the period.

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.