Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 9% – Should You Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) traded up 9% on Friday . The company traded as high as $19.80 and last traded at $19.73. 54,563,018 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 89,179,844 shares. The stock had previously closed at $18.09.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market capitalization of $8.02 billion, a PE ratio of 29.25 and a beta of 4.09. The firm’s 50 day moving average is $26.81 and its two-hundred day moving average is $30.22.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $27,180,000. BNP Paribas Financial Markets raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% in the 4th quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $8,193,000 after purchasing an additional 299,744 shares in the last quarter. Simplex Trading LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the 4th quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock valued at $27,319,000 after purchasing an additional 235,607 shares in the last quarter. TB Alternative Assets Ltd. lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 29.5% during the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after purchasing an additional 141,941 shares during the last quarter. Finally, Taika Capital LP acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth $3,765,000.

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.