Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 16.2% Higher – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price traded up 16.2% during mid-day trading on Thursday . The stock traded as high as $204.55 and last traded at $203.09. Approximately 18,557,049 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 75,212,086 shares. The stock had previously closed at $174.82.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 14.6%

The stock has a market cap of $23.74 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66. The company has a 50 day simple moving average of $204.63 and a 200-day simple moving average of $112.06.

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

Institutional investors have recently bought and sold shares of the company. Jump Financial LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after acquiring an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after purchasing an additional 516,575 shares during the last quarter. Simplex Trading LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after purchasing an additional 354,575 shares during the last quarter. Finally, IMC Chicago LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 550.1% in the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after purchasing an additional 324,775 shares in 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.