Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 10.5% – Time to Buy?

by · The Markets Daily

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL – Get Free Report) traded up 10.5% during trading on Friday . The company traded as high as $58.78 and last traded at $58.8520. 21,919,000 shares were traded during trading, a decline of 72% from the average session volume of 78,029,367 shares. The stock had previously closed at $53.25.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $11.80 billion, a PE ratio of 35.63 and a beta of 4.52. The company has a 50-day simple moving average of $50.99 and a 200-day simple moving average of $39.71.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOXL. Raymond James Financial Inc. purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $25,000. Optimum Investment Advisors lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.0% during the 2nd quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock worth $33,000 after purchasing an additional 1,100 shares during the last quarter. Addison Advisors LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at about $33,000. ORG Wealth Partners LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at about $36,000. Finally, Tucker Asset Management LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at about $37,000.

About Direxion Daily Semiconductors Bull 3x Shares

(Get Free Report)

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.

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