Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 8% Higher

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) rose 8% during trading on Wednesday . The stock traded as high as $30.74 and last traded at $30.63. Approximately 101,628,305 shares changed hands during mid-day trading, an increase of 39% from the average daily volume of 73,137,695 shares. The stock had previously closed at $28.35.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 13.7 %

The firm has a market cap of $8.73 billion, a P/E ratio of 37.08 and a beta of 5.47. The firm’s 50-day simple moving average is $42.52 and its 200 day simple moving average is $45.30.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the business. Hazlett Burt & Watson Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at approximately $42,000. Westend Capital Management LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at approximately $68,000. Covestor Ltd grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 98.9% during the first quarter. Covestor Ltd now owns 1,760 shares of the company’s stock valued at $82,000 after acquiring an additional 875 shares in the last quarter. VitalStone Financial LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 437.1% during the first quarter. VitalStone Financial LLC now owns 2,186 shares of the company’s stock valued at $102,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $219,000.

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.