Short Interest in Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Declines By 42.6%

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 17,514,729 shares, a decline of 42.6% from the July 30th total of 30,488,090 shares. Approximately 10.3% of the company’s shares are short sold. Based on an average daily volume of 58,998,640 shares, the short-interest ratio is currently 0.3 days.

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

Several institutional investors have recently added to or reduced their stakes in SOXL. Halbert Hargrove Global Advisors LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after acquiring an additional 138 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth about $25,000. Western Wealth Management LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth about $33,000. St. Johns Investment Management Company LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth about $38,000. Finally, 1248 Management LLC grew its stake in shares of 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 worth $34,000 after purchasing an additional 200 shares during the last quarter.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 9.5%

Shares of NYSEARCA:SOXL traded down $11.71 during trading on Friday, reaching $111.34. 60,394,691 shares of the company traded hands, compared to its average volume of 73,717,016. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73. Direxion Daily Semiconductors Bull 3x Shares has a 52-week low of $23.80 and a 52-week high of $302.00. The business’s fifty day moving average is $158.14 and its 200-day moving average is $132.99.

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.