Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 8.1% Higher – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares traded up 8.1% on Thursday . The stock traded as high as $268.40 and last traded at $248.20. Approximately 35,273,526 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 76,592,781 shares. The stock had previously closed at $229.57.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $34.64 billion, a PE ratio of 35.63 and a beta of 5.70. The stock’s fifty day simple moving average is $183.26 and its 200-day simple moving average is $100.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avestar Capital LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at approximately $2,514,000. Northwestern Mutual Wealth Management Co. grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares during the period. SteelPeak Wealth LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 152.8% in the 4th quarter. SteelPeak Wealth LLC now owns 22,491 shares of the company’s stock valued at $945,000 after acquiring an additional 13,593 shares during the period. HighTower Advisors LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 8.4% in the fourth quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock valued at $1,761,000 after purchasing an additional 3,233 shares during the period. Finally, Larson Financial Group LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 91.1% during the 4th quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock worth $297,000 after buying an additional 3,366 shares in the last quarter.

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.