Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month High – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week high during trading on Thursday . The stock traded as high as $285.87 and last traded at $285.50, with a volume of 44695237 shares trading hands. The stock had previously closed at $233.86.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 20.4%

The business has a fifty day simple moving average of $163.92 and a two-hundred day simple moving average of $92.70. The company has a market cap of $38.14 billion, a PE ratio of 35.63 and a beta of 5.70.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently modified their holdings of SOXL. Halbert Hargrove Global Advisors LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after acquiring an additional 138 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $25,000. Western Wealth Management LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth approximately $33,000. St. Johns Investment Management Company LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth approximately $38,000. Finally, 1248 Management LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter.

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.