Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 8.5% – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares shot up 8.5% during trading on Wednesday . The company traded as high as $52.27 and last traded at $51.98. 40,058,079 shares were traded during trading, a decline of 53% from the average session volume of 85,748,156 shares. The stock had previously closed at $47.91.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 11.9%

The company has a market capitalization of $10.32 billion, a P/E ratio of 35.63 and a beta of 4.52. The business has a 50 day simple moving average of $59.09 and a 200-day simple moving average of $48.30.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently bought and sold shares of SOXL. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $25,000. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $25,000. Addison Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at approximately $33,000. 1248 Management LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth approximately $36,000.

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.