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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price dropped 7.6% during trading on Thursday . The stock traded as low as $31.20 and last traded at $31.43. Approximately 18,894,389 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 74,779,180 shares. The stock had previously closed at $34.01.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business’s 50-day simple moving average is $34.93 and its two-hundred day simple moving average is $42.75. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SOXL. SG Americas Securities LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 56.4% in the 2nd quarter. SG Americas Securities LLC now owns 39,276 shares of the company’s stock valued at $2,174,000 after acquiring an additional 14,170 shares during the period. Morse Asset Management Inc lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 31.1% during the 2nd quarter. Morse Asset Management Inc now owns 16,225 shares of the company’s stock worth $898,000 after buying an additional 3,848 shares during the period. HB Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at about $623,000. XTX Topco Ltd acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at about $503,000. Finally, Onyx Bridge Wealth Group LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at approximately $219,000.

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.