Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Sees Large Volume Increase – Still a Buy?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) saw an uptick in trading volume on Wednesday. Approximately 80,993,249 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 74,970,789 shares. The stock last traded at $72.7580 and had previously closed at $73.12.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The company has a 50 day simple moving average of $119.26 and a two-hundred day simple moving average of $123.67. The firm has a market cap of $15.83 billion, a PE ratio of 35.63 and a beta of 5.93.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SOXL. IMC Chicago LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% during the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after acquiring an additional 324,775 shares in the last quarter. Optiver Holding B.V. increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 831.0% in the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after purchasing an additional 251,587 shares during the last quarter. Simplex Trading LLC acquired a new stake in Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth approximately $29,328,000. M Holdings Securities Inc. lifted its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 4.5% during the 3rd quarter. M Holdings Securities Inc. now owns 47,601 shares of the company’s stock worth $7,038,000 after buying an additional 2,048 shares during the last quarter. Finally, Client First Investment Management LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 117.3% during the 3rd quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock worth $4,827,000 after buying an additional 17,621 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3X ETF

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.