Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 12% – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares rose 12% during trading on Wednesday . The stock traded as high as $47.98 and last traded at $47.9310. Approximately 58,741,620 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 125,220,625 shares. The stock had previously closed at $42.80.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 12.1%

The stock has a 50 day moving average price of $35.93 and a two-hundred day moving average price of $26.57. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

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

A number of institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at $195,000. Parallel Advisors LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 194.9% during the second quarter. Parallel Advisors LLC now owns 16,257 shares of the company’s stock valued at $408,000 after buying an additional 10,745 shares during the period. Bank of Nova Scotia bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth about $416,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth approximately $750,000. Finally, Morse Asset Management Inc lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 23.0% during the first quarter. Morse Asset Management Inc now owns 38,028 shares of the company’s stock valued at $607,000 after purchasing an additional 7,118 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.