Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 10.1% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price were up 10.1% during trading on Wednesday . The company traded as high as $147.70 and last traded at $146.40. 21,791,177 shares traded hands during trading, a decline of 71% from the average session volume of 74,770,758 shares. The stock had previously closed at $133.00.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73. The firm’s 50-day simple moving average is $181.33 and its two-hundred day simple moving average is $128.68.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently modified their holdings of SOXL. Pin Oak Investment Advisors Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $25,000. Halbert Hargrove Global Advisors LLC boosted its position 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 valued at $27,000 after buying an additional 138 shares during the last quarter. Western Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at $33,000. Finally, 1248 Management LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during the period.

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.