Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month Low – Time to Sell?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $19.00 and last traded at $20.65, with a volume of 152886694 shares changing hands. The stock had previously closed at $20.51.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a 50-day simple moving average of $27.95 and a 200-day simple moving average of $31.15. The stock has a market cap of $5.93 billion, a PE ratio of 29.74 and a beta of 3.96.

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

A number of institutional investors have recently added to or reduced their stakes in SOXL. Creative Planning acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $216,000. Hollencrest Capital Management lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after acquiring an additional 2,863 shares in the last quarter. Covestor Ltd lifted its stake 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 worth $65,000 after acquiring an additional 889 shares in the last quarter. Verus Capital Partners LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 35.9% in the third quarter. Verus Capital Partners LLC now owns 9,633 shares of the company’s stock worth $353,000 after acquiring an additional 2,545 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 14.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock worth $302,000 after acquiring an additional 1,018 shares in 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.