Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sees Strong Trading Volume – Still a Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) saw unusually-strong trading volume on Monday . Approximately 86,803,695 shares were traded during trading, a decline of 11% from the previous session’s volume of 97,337,269 shares.The stock last traded at $8.39 and had previously closed at $9.20.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s fifty day moving average is $18.70 and its two-hundred day moving average is $26.56. The company has a market cap of $6.68 billion, a P/E ratio of 15.60 and a beta of 4.11.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $27,180,000. BNP Paribas Financial Markets increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% in the 4th 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 in the last quarter. Simplex Trading LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the fourth quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after purchasing an additional 235,607 shares in the last quarter. TB Alternative Assets Ltd. grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock valued at $17,011,000 after acquiring an additional 141,941 shares during the period. Finally, Variant Private Wealth LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $2,030,000.

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.