Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sees Unusually-High Trading Volume – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares saw unusually-high trading volume on Tuesday . Approximately 86,246,543 shares changed hands during trading, a decline of 9% from the previous session’s volume of 94,908,559 shares.The stock last traded at $10.63 and had previously closed at $10.47.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 1.3 %

The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11. The company has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $27.27.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a $0.0648 dividend. This is a boost from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently added to or reduced their stakes in SOXL. Integrated Advisors Network LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $959,000. IMC Chicago LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 83.3% during the first quarter. IMC Chicago LLC now owns 146,526 shares of the company’s stock valued at $2,337,000 after buying an additional 66,606 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $32,000. Parallel Advisors LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.9% in the 1st quarter. Parallel Advisors LLC now owns 5,512 shares of the company’s stock valued at $88,000 after purchasing an additional 1,760 shares during the period. Finally, Copia Wealth Management purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $36,000.

About Direxion Daily Semiconductors Bull 3x Shares

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.