Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 6.3% – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares traded up 6.3% on Wednesday . The stock traded as high as $38.30 and last traded at $38.4360. 31,873,913 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 124,887,055 shares. The stock had previously closed at $36.17.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 8.4%

The company has a market cap of $11.49 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The business’s 50 day moving average price is $39.31 and its 200-day moving average price is $29.39.

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

Institutional investors have recently made changes to their positions in the company. CloudAlpha Capital Management Limited Hong Kong bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $22,677,000. Jump Financial LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after purchasing an additional 775,222 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the second quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock worth $41,915,000 after purchasing an additional 526,417 shares during the period. Finally, Elevatus Welath Management bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth approximately $9,517,000.

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.