Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 16.2% – Time to Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shot up 16.2% during mid-day trading on Thursday . The stock traded as high as $204.55 and last traded at $203.09. 18,557,049 shares were traded during mid-day trading, a decline of 75% from the average session volume of 75,212,086 shares. The stock had previously closed at $174.82.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 14.6%

The stock’s 50 day moving average price is $204.63 and its 200 day moving average price is $112.06. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jump Financial LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after purchasing an additional 775,222 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after purchasing an additional 516,575 shares in the last quarter. Simplex Trading LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after purchasing an additional 354,575 shares in the last quarter. Finally, IMC Chicago LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.1% in the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after buying an additional 324,775 shares during 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.