Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 7.6% – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shot up 7.6% during mid-day trading on Friday . The stock traded as high as $20.95 and last traded at $20.69. 121,153,129 shares traded hands during mid-day trading, an increase of 44% from the average session volume of 84,383,742 shares. The stock had previously closed at $19.23.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a market capitalization of $6.44 billion, a P/E ratio of 29.74 and a beta of 3.96. The company has a 50 day moving average of $27.78 and a 200-day moving average of $30.94.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently bought and sold shares of SOXL. Farther Finance Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth about $29,000. Copia Wealth Management purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth about $36,000. Lindbrook Capital LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after buying an additional 600 shares during the period. Anchor Investment Management LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after buying an additional 585 shares during the period. Finally, PayPay Securities Corp lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock valued at $62,000 after purchasing an additional 403 shares during the last quarter.

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.