Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Jumps 9.4% – Still a Buy?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) shares were up 9.4% during mid-day trading on Friday. The company traded as high as $168.00 and last traded at $168.1490. 20,733,905 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 71,628,391 shares. The stock had previously closed at $153.69.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The firm has a 50-day simple moving average of $126.05 and a 200 day simple moving average of $144.50. The stock has a market capitalization of $27.16 billion, a P/E ratio of 35.63 and a beta of 5.74.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Simplex Trading LLC grew its holdings in Direxion Daily Semiconductors Bull 3X ETF by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after acquiring an additional 354,575 shares during the last quarter. IMC Chicago LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% during the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after acquiring an additional 324,775 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% during the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after acquiring an additional 251,587 shares during the last quarter. Avestar Capital LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the fourth quarter worth $2,514,000. Finally, M Holdings Securities Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the fourth quarter worth $2,212,000.

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.