Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 6.6% – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were up 6.6% during mid-day trading on Friday . The company traded as high as $28.92 and last traded at $28.75. Approximately 27,647,955 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 75,388,344 shares. The stock had previously closed at $26.98.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm’s fifty day moving average is $33.44 and its 200 day moving average is $41.60. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently modified their holdings of SOXL. TB Alternative Assets Ltd. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $17,641,000. IMC Chicago LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $24,699,000. CloudAlpha Capital Management Limited Hong Kong boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock worth $14,049,000 after purchasing an additional 205,910 shares in the last quarter. Westwood Wealth Management increased its position in Direxion Daily Semiconductors Bull 3x Shares by 4.0% during the second quarter. Westwood Wealth Management now owns 226,970 shares of the company’s stock worth $12,565,000 after buying an additional 8,655 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at about $7,760,000.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

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.