Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sees Large Growth in Short Interest

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 14,623,364 shares, an increase of 17.7% from the February 12th total of 12,427,715 shares. Approximately 7.6% of the company’s stock are sold short. Based on an average daily trading volume, of 72,584,790 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 72,584,790 shares, the days-to-cover ratio is presently 0.2 days. Approximately 7.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. 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. Raymond James Financial Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $25,000. Addison Advisors LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth approximately $33,000. 1248 Management LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after buying 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 fourth quarter valued at approximately $36,000.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

SOXL traded up $1.26 during trading on Tuesday, reaching $54.95. 59,068,106 shares of the stock were exchanged, compared to its average volume of 83,194,992. The stock has a market cap of $10.58 billion, a P/E ratio of 35.63 and a beta of 4.52. Direxion Daily Semiconductors Bull 3x Shares has a twelve month low of $7.22 and a twelve month high of $72.36. The stock’s 50 day moving average price is $60.10 and its two-hundred day moving average price is $46.61.

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.