Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sets New 1-Year Low – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week low on Thursday . The stock traded as low as $23.41 and last traded at $23.50, with a volume of 91003267 shares. The stock had previously closed at $26.29.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market capitalization of $6.71 billion, a PE ratio of 29.74 and a beta of 3.96. The firm has a 50 day moving average of $28.91 and a 200-day moving average of $31.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $29,000. Anchor Investment Management LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in 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. Lindbrook Capital LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 70.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after purchasing an additional 600 shares in the last quarter. Covestor Ltd lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after acquiring an additional 889 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after purchasing an additional 300 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.