Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 52-Week High – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week high on Monday . The stock traded as high as $51.22 and last traded at $50.8350, with a volume of 36474444 shares trading hands. The stock had previously closed at $47.24.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market capitalization of $14.90 billion, a PE ratio of 35.63 and a beta of 4.52. The company has a fifty day moving average price of $42.54 and a 200-day moving average price of $34.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOXL. SBI Securities Co. Ltd. raised its position in 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 valued at $41,915,000 after purchasing an additional 526,417 shares during the period. Jump Financial LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after buying an additional 775,222 shares during the period. Tower Research Capital LLC TRC raised its holdings in 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 valued at $40,912,000 after buying an additional 603,324 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $22,677,000. Finally, Group One Trading LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the 2nd quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock worth $20,182,000 after purchasing an additional 319,393 shares during the period.

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.