Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 8.1% Higher – Time to Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) rose 8.1% during trading on Thursday . The company traded as high as $268.40 and last traded at $248.20. 35,273,526 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 76,592,781 shares. The stock had previously closed at $229.57.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 11.3%

The firm has a market capitalization of $34.64 billion, a PE ratio of 35.63 and a beta of 5.70. The business has a 50-day moving average price of $183.26 and a 200-day moving average price of $100.46.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXL. Simplex Trading LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after purchasing an additional 354,575 shares during the last quarter. Jump Financial LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after buying an additional 775,222 shares during the period. Tower Research Capital LLC TRC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. Group One Trading LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the 2nd quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock worth $20,182,000 after purchasing an additional 319,393 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 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.