Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Up 3.7% – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were up 3.7% during trading on Monday . The company traded as high as $29.20 and last traded at $28.23. Approximately 24,871,470 shares traded hands during trading, a decline of 67% from the average daily volume of 75,341,297 shares. The stock had previously closed at $27.22.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 3.0 %

The firm has a 50-day moving average price of $30.93 and a two-hundred day moving average price of $39.15. The company has a market capitalization of $8.26 billion, a P/E ratio of 37.08 and a beta of 5.47.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Hedge funds have recently modified their holdings of the stock. Anchor Investment Management LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 83.6% during 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 last quarter. Covestor Ltd raised its position in Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after purchasing an additional 889 shares during the last quarter. Signaturefd LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after buying an additional 300 shares in the last quarter. Bogart Wealth LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at $106,000. Finally, Hollencrest Capital Management increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock valued at $109,000 after buying an additional 2,863 shares during the period.

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.