Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 52-Week High – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $72.36 and last traded at $71.6870, with a volume of 17407065 shares changing hands. The stock had previously closed at $68.53.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The company has a 50-day moving average price of $57.53 and a 200-day moving average price of $43.87.

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

Several hedge funds have recently bought and sold shares of SOXL. Pin Oak Investment Advisors Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $25,000. Raymond James Financial Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at about $25,000. Addison Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth about $33,000. 1248 Management LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $36,000.

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.