Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 1-Year High – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $70.19 and last traded at $70.6010, with a volume of 9885066 shares traded. The stock had previously closed at $64.96.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The stock’s 50 day simple moving average is $47.26 and its 200-day simple moving average is $38.16.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Avestar Capital LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 232.9% in the 2nd quarter. Avestar Capital LLC now owns 264,996 shares of the company’s stock worth $6,654,000 after purchasing an additional 185,383 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 772.9% during the second quarter. Farther Finance Advisors LLC now owns 12,220 shares of the company’s stock valued at $307,000 after purchasing an additional 10,820 shares during the last quarter. Dakota Community Bank & Trust NA bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at approximately $791,000. Stratos Wealth Advisors LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 38.6% in the second quarter. Stratos Wealth Advisors LLC now owns 30,793 shares of the company’s stock worth $773,000 after buying an additional 8,579 shares during the last quarter. Finally, Orion Porfolio Solutions LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $1,657,000.

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.