Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Price Up 9.1% – Here’s What Happened

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) rose 9.1% on Monday. The company traded as high as $88.69 and last traded at $91.1580. Approximately 41,120,514 shares were traded during trading, a decline of 44% from the average daily volume of 73,000,195 shares. The stock had previously closed at $83.56.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The stock’s fifty day simple moving average is $122.77 and its 200 day simple moving average is $122.87. The firm has a market capitalization of $23.37 billion, a P/E ratio of 35.63 and a beta of 5.75.

Institutional Trading of Direxion Daily Semiconductors Bull 3X ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. PayPay Securities Corp lifted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 105.8% in the third quarter. PayPay Securities Corp now owns 856 shares of the company’s stock worth $127,000 after buying an additional 440 shares in the last quarter. Signaturefd LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF in the third quarter valued at approximately $344,000. Sowell Financial Services LLC purchased a new stake in Direxion Daily Semiconductors Bull 3X ETF in the 3rd quarter valued at about $296,000. Variant Private Wealth LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth $2,705,000. Finally, Prime Capital Investment Advisors LLC boosted its position in Direxion Daily Semiconductors Bull 3X ETF by 10.8% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 9,245 shares of the company’s stock valued at $1,367,000 after buying an additional 901 shares during the period.

About Direxion Daily Semiconductors Bull 3X ETF

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.