Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sees Strong Trading Volume

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) saw strong trading volume on Friday . 34,175,191 shares traded hands during mid-day trading, a decline of 53% from the previous session’s volume of 72,148,055 shares.The stock last traded at $27.52 and had previously closed at $29.75.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 12.2 %

The firm has a market cap of $7.07 billion, a P/E ratio of 37.08 and a beta of 5.47. The business’s 50 day moving average is $44.25 and its 200-day moving average is $45.44.

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

A number of institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $3,002,000. Spire Wealth Management boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 125.2% during the 4th quarter. Spire Wealth Management now owns 12,035 shares of the company’s stock valued at $420,000 after purchasing an additional 6,691 shares during the period. St. Johns Investment Management Company LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $94,000. Meridian Wealth Management LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.0% in the 4th quarter. Meridian Wealth Management LLC now owns 11,398 shares of the company’s stock worth $358,000 after acquiring an additional 649 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $2,459,000.

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.