Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 5% Higher – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price shot up 5% during trading on Wednesday . The stock traded as high as $8.94 and last traded at $8.66. 167,329,871 shares changed hands during mid-day trading, an increase of 91% from the average session volume of 87,462,386 shares. The stock had previously closed at $8.25.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11. The business’s 50 day moving average price is $20.78 and its 200 day moving average price is $27.72.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Morse Asset Management Inc grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the 4th quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock valued at $844,000 after acquiring an additional 368 shares during the period. PayPay Securities Corp grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 21.6% in the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock valued at $62,000 after purchasing an additional 403 shares during the period. Anchor Investment Management LLC grew its holdings in 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 purchasing an additional 585 shares during the period. Lindbrook Capital LLC raised its stake in shares of 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 buying an additional 600 shares during the period. Finally, Visionary Wealth Advisors lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.8% during the 4th quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock valued at $263,000 after buying an additional 613 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.