Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Up 7.2% – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares traded up 7.2% during mid-day trading on Friday . The stock traded as high as $30.62 and last traded at $30.51. 11,918,220 shares traded hands during trading, a decline of 84% from the average session volume of 74,900,227 shares. The stock had previously closed at $28.46.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 5.7 %

The firm has a market cap of $8.15 billion, a P/E ratio of 37.08 and a beta of 5.47. The firm has a fifty day moving average of $32.15 and a 200-day moving average of $40.36.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 56.4% in the 2nd quarter. SG Americas Securities LLC now owns 39,276 shares of the company’s stock valued at $2,174,000 after acquiring an additional 14,170 shares during the period. Dakota Wealth Management bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $451,000. Onyx Bridge Wealth Group LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $219,000. HB Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $623,000. Finally, VitalStone Financial LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 326.4% in the 2nd quarter. VitalStone Financial LLC now owns 9,321 shares of the company’s stock valued at $516,000 after buying an additional 7,135 shares in the last quarter.

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.