Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Sees Large Volume Increase – Still a Buy?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) saw an uptick in trading volume on Thursday. 46,789,520 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 71,460,625 shares. The stock last traded at $98.0420 and had previously closed at $110.54.

Direxion Daily Semiconductors Bull 3X ETF Stock Down 6.1%

The company has a market cap of $16.17 billion, a PE ratio of 35.63 and a beta of 5.75. The company’s fifty day moving average is $130.35 and its 200-day moving average is $150.26.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 32.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the period. SteelPeak Wealth LLC increased its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 1.2% during the 1st quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after purchasing an additional 266 shares during the last quarter. Clay Northam Wealth Management LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 6.8% in the 3rd quarter. Clay Northam Wealth Management LLC now owns 4,715 shares of the company’s stock worth $697,000 after purchasing an additional 300 shares during the period. Kaizen Financial Strategies lifted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 4.6% in the 1st quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock worth $381,000 after purchasing an additional 350 shares during the period. Finally, Anchor Investment Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the 2nd quarter worth approximately $107,000.

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.