Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Sees Significant Growth in Short Interest

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 28,110,612 shares, an increase of 60.5% from the August 15th total of 17,514,729 shares. Based on an average daily volume of 55,741,456 shares, the short-interest ratio is presently 0.5 days. Approximately 16.6% of the shares of the stock are short sold.

Direxion Daily Semiconductors Bull 3X ETF Trading Up 10.5%

Shares of SOXL stock traded up $10.90 during trading hours on Thursday, hitting $114.87. 52,427,394 shares of the company’s stock were exchanged, compared to its average volume of 72,524,758. The business’s 50 day simple moving average is $130.38 and its 200-day simple moving average is $137.72. Direxion Daily Semiconductors Bull 3X ETF has a 12-month low of $28.12 and a 12-month high of $302.00. The company has a market capitalization of $18.39 billion, a PE ratio of 35.63 and a beta of 5.73.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Anchor Investment Management LLC purchased a new stake in Direxion Daily Semiconductors Bull 3X ETF during the second quarter valued at $107,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after acquiring an additional 138 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the first quarter valued at approximately $33,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the first quarter valued at approximately $38,000. Finally, Tucker Asset Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the 4th quarter worth $37,000.

Direxion Daily Semiconductors Bull 3X ETF 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.