Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 7.6% Higher – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shot up 7.6% during trading on Monday . The company traded as high as $20.45 and last traded at $20.64. 33,811,596 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 114,873,410 shares. The stock had previously closed at $19.18.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a market cap of $13.85 billion, a P/E ratio of 35.63 and a beta of 4.28. The firm has a 50 day moving average price of $13.79 and a 200-day moving average price of $22.06.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of SOXL. PNC Financial Services Group Inc. boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock worth $219,000 after buying an additional 2,313 shares during the period. Farther Finance Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth approximately $29,000. LM Advisors LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 667.3% during the fourth quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock worth $2,054,000 after buying an additional 65,400 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 15.5% in the 4th quarter. Corient Private Wealth LLC now owns 30,374 shares of the company’s stock valued at $830,000 after purchasing an additional 4,074 shares in the last quarter. Finally, Variant Private Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $2,030,000.

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.