Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Jumps 9.4% – Here’s Why

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) shares traded up 9.4% on Friday. The company traded as high as $168.00 and last traded at $168.1490. 20,733,905 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 71,628,391 shares. The stock had previously closed at $153.69.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The stock’s 50-day simple moving average is $126.05 and its 200 day simple moving average is $144.50. The stock has a market capitalization of $27.16 billion, a P/E ratio of 35.63 and a beta of 5.74.

Institutional Trading of Direxion Daily Semiconductors Bull 3X ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Simplex Trading LLC boosted its position in Direxion Daily Semiconductors Bull 3X ETF by 40.2% in the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after buying an additional 354,575 shares in the last quarter. IMC Chicago LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% during the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after buying an additional 324,775 shares in the last quarter. Optiver Holding B.V. increased its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% during the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock worth $13,525,000 after buying an additional 251,587 shares in the last quarter. Avestar Capital LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the fourth quarter worth $2,514,000. Finally, M Holdings Securities Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the 4th quarter valued at $2,212,000.

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.