Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 52-Week High – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $72.36 and last traded at $71.6870, with a volume of 17407065 shares changing hands. The stock had previously closed at $68.53.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business’s fifty day moving average price is $56.28 and its two-hundred day moving average price is $43.52. The stock has a market capitalization of $13.75 billion, a PE ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. May Hill Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at about $210,000. Howard Capital Management Inc. increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 98.8% in the second quarter. Howard Capital Management Inc. now owns 197,439 shares of the company’s stock valued at $4,964,000 after buying an additional 98,139 shares in the last quarter. Westwood Wealth Management increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 31.5% in the second quarter. Westwood Wealth Management now owns 304,070 shares of the company’s stock valued at $7,635,000 after buying an additional 72,825 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 26.7% during the 2nd quarter. Bank of Montreal Can now owns 5,933 shares of the company’s stock worth $149,000 after buying an additional 1,250 shares during the period. Finally, Optivise Advisory Services LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 36.1% in the 2nd quarter. Optivise Advisory Services LLC now owns 17,956 shares of the company’s stock valued at $451,000 after acquiring an additional 4,760 shares during the period.

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.