Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Price Up 9.1% – Should You Buy?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) traded up 9.1% during mid-day trading on Monday. The stock traded as high as $88.69 and last traded at $91.1580. Approximately 41,120,514 shares traded hands during trading, a decline of 44% from the average daily volume of 73,000,195 shares. The stock had previously closed at $83.56.

Direxion Daily Semiconductors Bull 3X ETF Trading Up 9.5%

The stock has a 50 day moving average of $124.32 and a 200-day moving average of $152.50. The company has a market capitalization of $20.63 billion, a P/E ratio of 35.63 and a beta of 5.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 1.2% in the 1st quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock worth $1,090,000 after acquiring an additional 266 shares during the period. Clay Northam Wealth Management LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 6.8% during the 3rd quarter. Clay Northam Wealth Management LLC now owns 4,715 shares of the company’s stock valued at $697,000 after purchasing an additional 300 shares in the last quarter. Kaizen Financial Strategies boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 4.6% during the 1st quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock worth $381,000 after acquiring an additional 350 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the 2nd quarter valued at approximately $107,000. Finally, Western Wealth Management LLC purchased a new stake in Direxion Daily Semiconductors Bull 3X ETF in the 1st quarter worth about $33,000.

About Direxion Daily Semiconductors Bull 3X ETF

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.