Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 7% Higher – Should You Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price rose 7% during mid-day trading on Tuesday . The company traded as high as $44.37 and last traded at $44.1980. Approximately 24,692,838 shares changed hands during trading, a decline of 80% from the average daily volume of 124,312,055 shares. The stock had previously closed at $41.31.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 5.5%

The business has a 50-day moving average price of $39.90 and a 200-day moving average price of $30.01. The stock has a market cap of $12.77 billion, a PE ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth approximately $22,677,000. Jump Financial LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after acquiring an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after acquiring an additional 603,324 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.1% in the second quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock worth $41,915,000 after acquiring an additional 526,417 shares during the last quarter. Finally, Elevatus Welath Management purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth approximately $9,517,000.

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.