Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Hits New 1-Year High – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $72.36 and last traded at $71.6870, with a volume of 17407065 shares trading hands. The stock had previously closed at $68.53.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a market cap of $13.75 billion, a PE ratio of 35.63 and a beta of 4.52. The business has a fifty day simple moving average of $56.28 and a two-hundred day simple moving average of $43.52.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 171.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 15,993 shares of the company’s stock valued at $672,000 after acquiring an additional 10,100 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $548,000. Mercer Global Advisors Inc. ADV acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $1,293,000. EP Wealth Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at about $275,000. Finally, NewEdge Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth about $299,000.

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.