Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month Low – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $19.00 and last traded at $20.65, with a volume of 152886694 shares. The stock had previously closed at $20.51.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm’s fifty day simple moving average is $28.35 and its 200 day simple moving average is $31.30. The firm has a market cap of $6.37 billion, a P/E ratio of 29.74 and a beta of 3.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $29,000. Lindbrook Capital LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock valued at $40,000 after buying an additional 600 shares during the period. Anchor Investment Management LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after buying an additional 585 shares during the period. PayPay Securities Corp boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% in the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock valued at $62,000 after purchasing an additional 403 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after purchasing an additional 889 shares during the period.

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.