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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were down 6.2% on Wednesday . The company traded as low as $165.33 and last traded at $165.71. Approximately 14,799,339 shares were traded during 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 Price Performance

The firm’s 50-day moving average price is $209.19 and its 200-day moving average price is $115.96. The company has a market cap of $19.89 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after acquiring an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 worth $40,912,000 after acquiring an additional 603,324 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after acquiring an additional 516,575 shares in the last quarter. Simplex Trading LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 40.2% in the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after purchasing an additional 354,575 shares during the last quarter. Finally, IMC Chicago LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 550.1% in the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after purchasing an additional 324,775 shares during the last quarter.

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.