Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 17.8% – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares were down 17.8% during mid-day trading on Thursday . The company traded as low as $13.52 and last traded at $13.36. Approximately 46,995,578 shares were traded during trading, a decline of 41% from the average daily volume of 80,003,822 shares. The stock had previously closed at $16.26.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 25.1 %

The stock has a 50 day moving average of $23.63 and a 200 day moving average of $28.98. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a $0.0648 dividend. This is a positive change from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently added to or reduced their stakes in SOXL. Simplex Trading LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the 4th quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after buying an additional 235,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth $27,180,000. TB Alternative Assets Ltd. increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the fourth quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock valued at $17,011,000 after purchasing an additional 141,941 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% during the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $8,193,000 after purchasing an additional 299,744 shares during the period. Finally, Taika Capital LP acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at about $3,765,000.

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.