Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Down 11.1% – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) traded down 11.1% on Tuesday . The stock traded as low as $35.26 and last traded at $36.30. 47,481,887 shares traded hands during trading, a decline of 37% from the average session volume of 74,888,898 shares. The stock had previously closed at $40.82.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 2.2 %

The stock’s 50-day moving average price is $35.26 and its 200-day moving average price is $43.41. The company has a market cap of $9.55 billion, a P/E ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SOXL. IMC Chicago LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at about $24,699,000. Global Assets Advisory LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $13,683,000. Westwood Wealth Management purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth approximately $10,158,000. Virtu Financial LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at $7,760,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 60.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 47,030 shares of the company’s stock valued at $2,188,000 after acquiring an additional 17,757 shares during 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.