Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 3.7% Higher – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price rose 3.7% during mid-day trading on Monday . The company traded as high as $29.20 and last traded at $28.23. Approximately 24,871,470 shares traded hands during trading, a decline of 67% from the average daily volume of 75,341,297 shares. The stock had previously closed at $27.22.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s 50 day moving average is $31.16 and its 200-day moving average is $39.32. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after buying an additional 300 shares in the last quarter. Anchor Investment Management LLC increased its position in 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 worth $47,000 after purchasing an additional 585 shares during the last quarter. Covestor Ltd raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% during the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after purchasing an additional 889 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 14.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock valued at $302,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Strategic Blueprint LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 16.7% in the 3rd quarter. Strategic Blueprint LLC now owns 7,329 shares of the company’s stock valued at $269,000 after buying an additional 1,050 shares during the period.

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.