Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Trading Up 4.3% – Should You Buy?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price traded up 4.3% on Tuesday . The stock traded as high as $105.77 and last traded at $105.4430. 16,418,606 shares were traded during mid-day trading, a decline of 77% from the average session volume of 72,422,078 shares. The stock had previously closed at $101.13.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73. The business’s 50 day moving average price is $130.38 and its 200-day moving average price is $137.72.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the 2nd quarter worth approximately $107,000. Bouchey Financial Group Ltd. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the second quarter valued at approximately $360,000. Allworth Financial LP grew its holdings in Direxion Daily Semiconductors Bull 3X ETF by 421.4% during the second quarter. Allworth Financial LP now owns 3,269 shares of the company’s stock worth $872,000 after acquiring an additional 2,642 shares during the period. Clay Northam Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the second quarter worth $1,178,000. Finally, AlphaGrep UK Ltd purchased a new position in Direxion Daily Semiconductors Bull 3X ETF in the second quarter worth $517,000.

Direxion Daily Semiconductors Bull 3X ETF 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.