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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) hit a new 52-week low during mid-day trading on Saturday . The company traded as low as $15.74 and last traded at $16.03, with a volume of 137534212 shares changing hands. The stock had previously closed at $17.76.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business has a 50 day simple moving average of $24.69 and a 200 day simple moving average of $29.32. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 29.25 and a beta of 4.09.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a dividend of $0.0648 per share. This is a positive change from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date is Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors have recently bought and sold shares of SOXL. Farther Finance Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth $29,000. Copia Wealth Management purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth about $36,000. Lindbrook Capital LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock valued at $40,000 after purchasing an additional 600 shares in the last quarter. Anchor Investment Management LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd 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. Finally, PayPay Securities Corp grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after buying an additional 403 shares in 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.