Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 15.9% Higher – Time to Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were up 15.9% during mid-day trading on Tuesday . The stock traded as high as $136.14 and last traded at $135.25. 26,660,209 shares traded hands during trading, a decline of 65% from the average daily volume of 75,470,148 shares. The stock had previously closed at $116.71.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business has a 50-day moving average price of $198.01 and a 200 day moving average price of $124.36. The stock has a market capitalization of $21.99 billion, a P/E ratio of 35.63 and a beta of 5.66.

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

Several hedge funds have recently added to or reduced their stakes in SOXL. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth $25,000. Raymond James Financial Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $25,000. Halbert Hargrove Global Advisors LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares in the last quarter. Western Wealth Management LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $33,000. Finally, 1248 Management LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter.

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.