Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month High – Still a Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) hit a new 52-week high on Wednesday . The stock traded as high as $62.60 and last traded at $63.9180, with a volume of 25968714 shares traded. The stock had previously closed at $57.94.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 6.6%

The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The firm’s fifty day moving average price is $44.83 and its 200 day moving average price is $36.88.

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

Several institutional investors and hedge funds have recently modified their holdings of SOXL. SBI Securities Co. Ltd. grew its position in Direxion Daily Semiconductors Bull 3x Shares by 46.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock valued at $41,915,000 after acquiring an additional 526,417 shares in the last quarter. Jump Financial LLC boosted its position 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 buying an additional 775,222 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after acquiring an additional 603,324 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at $22,677,000. Finally, Group One Trading LLC increased its holdings in 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.

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.