Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Sees Significant Growth in Short Interest

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 31,385,384 shares, an increase of 185.4% from the September 30th total of 10,996,149 shares. Based on an average daily trading volume, of 74,189,395 shares, the short-interest ratio is currently 0.4 days. Approximately 13.9% of the company’s shares are short sold.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

Shares of NYSEARCA SOXL opened at $77.05 on Friday. The company has a market capitalization of $19.59 billion, a P/E ratio of 35.63 and a beta of 5.75. The company has a 50 day simple moving average of $121.07 and a 200-day simple moving average of $123.52. Direxion Daily Semiconductors Bull 3X ETF has a 1 year low of $28.12 and a 1 year high of $302.00.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXL. Serenity Investment Advisors boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 8.3% during the third quarter. Serenity Investment Advisors now owns 2,627 shares of the company’s stock worth $388,000 after buying an additional 201 shares during the period. Covestor Ltd increased its position in Direxion Daily Semiconductors Bull 3X ETF by 10.8% in the 3rd quarter. Covestor Ltd now owns 2,696 shares of the company’s stock valued at $399,000 after acquiring an additional 263 shares during the period. SteelPeak Wealth LLC increased its position in Direxion Daily Semiconductors Bull 3X ETF by 1.2% in the 1st quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after acquiring an additional 266 shares during the period. Clay Northam Wealth Management LLC increased its position in Direxion Daily Semiconductors Bull 3X ETF by 6.8% in the 3rd quarter. Clay Northam Wealth Management LLC now owns 4,715 shares of the company’s stock valued at $697,000 after acquiring an additional 300 shares during the period. Finally, Kaizen Financial Strategies raised its stake in Direxion Daily Semiconductors Bull 3X ETF by 4.6% during the 1st quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock valued at $381,000 after acquiring an additional 350 shares during the last quarter.

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.