Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Position Cut by Morse Asset Management Inc

Morse Asset Management Inc trimmed its holdings in Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) by 24.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,377 shares of the company’s stock after selling 3,965 shares during the quarter. Morse Asset Management Inc’s holdings in Direxion Daily Semiconductors Bull 3x Shares were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SOXL. CloudAlpha Capital Management Limited Hong Kong bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth approximately $43,087,000. Simplex Trading LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at $41,164,000. Global Assets Advisory LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at $13,683,000. Westwood Wealth Management bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at $10,158,000. Finally, International Assets Investment Management LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at $3,002,000.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 5.4 %

NYSEARCA SOXL traded up $2.14 on Friday, reaching $41.92. 82,759,209 shares of the stock traded hands, compared to its average volume of 64,664,145. The firm’s fifty day simple moving average is $55.05 and its 200 day simple moving average is $45.34. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. Direxion Daily Semiconductors Bull 3x Shares has a 12 month low of $14.01 and a 12 month high of $70.08.

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.