Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 7.2% Higher – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price rose 7.2% on Friday . The stock traded as high as $30.62 and last traded at $30.51. Approximately 11,918,220 shares were traded during trading, a decline of 84% from the average daily volume of 74,900,227 shares. The stock had previously closed at $28.46.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a 50-day moving average of $32.15 and a 200-day moving average of $40.36. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 56.4% in the 2nd quarter. SG Americas Securities LLC now owns 39,276 shares of the company’s stock worth $2,174,000 after purchasing an additional 14,170 shares during the period. Dakota Wealth Management acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $451,000. Onyx Bridge Wealth Group LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $219,000. HB Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $623,000. Finally, VitalStone Financial LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 326.4% in the 2nd quarter. VitalStone Financial LLC now owns 9,321 shares of the company’s stock valued at $516,000 after buying an additional 7,135 shares during 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.