Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 7.3% – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price traded up 7.3% during trading on Tuesday . The company traded as high as $65.10 and last traded at $65.1370. 18,747,979 shares changed hands during trading, a decline of 74% from the average session volume of 72,800,531 shares. The stock had previously closed at $60.70.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The stock has a 50 day moving average price of $46.65 and a 200-day moving average price of $37.90.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $25,000. Optimum Investment Advisors raised its position in Direxion Daily Semiconductors Bull 3x Shares by 550.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock valued at $33,000 after purchasing an additional 1,100 shares in the last quarter. Addison Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $33,000. ORG Wealth Partners LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $36,000. Finally, Quent Capital LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth about $71,000.

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.