Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Up 6.7% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price shot up 6.7% during trading on Friday . The company traded as high as $32.12 and last traded at $32.01. 19,282,944 shares traded hands during trading, a decline of 73% from the average session volume of 72,216,727 shares. The stock had previously closed at $29.99.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 7.7 %

The business’s fifty day simple moving average is $29.26 and its 200 day simple moving average is $35.87. The stock has a market cap of $8.75 billion, a P/E ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Anchor Investment Management LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares during the period. Covestor Ltd raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 101.4% during the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after purchasing an additional 889 shares during the last quarter. Signaturefd LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after purchasing an additional 300 shares during the period. Bogart Wealth LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at about $106,000. Finally, Hollencrest Capital Management grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after buying an additional 2,863 shares during the period.

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.