Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 5.7% – Should You Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares traded up 5.7% during mid-day trading on Friday . The stock traded as high as $36.26 and last traded at $36.23. 11,032,677 shares traded hands during trading, a decline of 85% from the average session volume of 74,757,750 shares. The stock had previously closed at $34.29.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s 50 day simple moving average is $35.34 and its 200-day simple moving average is $42.99. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after purchasing an additional 300 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 98.9% during the 1st quarter. Covestor Ltd now owns 1,760 shares of the company’s stock valued at $82,000 after buying an additional 875 shares during the last quarter. VitalStone Financial LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 437.1% in the 1st quarter. VitalStone Financial LLC now owns 2,186 shares of the company’s stock valued at $102,000 after buying an additional 1,779 shares in the last quarter. Bogart Wealth LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $106,000. Finally, Hollencrest Capital Management raised its position in Direxion Daily Semiconductors Bull 3x Shares by 82,200.0% during the first quarter. Hollencrest Capital Management now owns 4,115 shares of the company’s stock valued at $191,000 after acquiring an additional 4,110 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.