Short Interest in Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Declines By 42.6%

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 17,514,729 shares, a drop of 42.6% from the July 30th total of 30,488,090 shares. Based on an average daily trading volume, of 58,998,640 shares, the days-to-cover ratio is currently 0.3 days. Currently, 10.3% of the company’s shares are short sold.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently added to or reduced their stakes in SOXL. Halbert Hargrove Global Advisors LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth about $25,000. Western Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $33,000. St. Johns Investment Management Company LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $38,000. Finally, 1248 Management LLC increased 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 valued at $34,000 after buying an additional 200 shares during the period.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 9.5%

Shares of SOXL stock traded down $11.71 during trading hours on Friday, reaching $111.34. The company’s stock had a trading volume of 60,394,691 shares, compared to its average volume of 73,717,016. Direxion Daily Semiconductors Bull 3x Shares has a one year low of $23.80 and a one year high of $302.00. The stock has a market capitalization of $18.86 billion, a P/E ratio of 35.63 and a beta of 5.73. The firm’s fifty day simple moving average is $158.14 and its 200 day simple moving average is $132.99.

About Direxion Daily Semiconductors Bull 3x Shares

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.