Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Up 7% – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price rose 7% on Wednesday . The company traded as high as $37.30 and last traded at $36.7630. Approximately 29,642,452 shares were traded during trading, a decline of 76% from the average daily volume of 124,215,570 shares. The stock had previously closed at $34.35.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 2.1%

The stock’s 50-day moving average price is $38.85 and its 200-day moving average price is $28.66. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $25,000. Optimum Investment Advisors increased its holdings in 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 in the last quarter. Addison Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $33,000. Quent Capital LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $71,000. Finally, Signaturefd LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 50.0% in the first quarter. Signaturefd LLC now owns 4,500 shares of the company’s stock valued at $72,000 after purchasing an additional 1,500 shares in the last quarter.

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.