Stock Traders Buy High Volume of Direxion Daily Semiconductors Bull 3x Shares Call Options (NYSEARCA:SOXL)

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) was the recipient of some unusual options trading on Monday. Stock traders purchased 302,163 call options on the company. This is an increase of approximately 12% compared to the average daily volume of 269,596 call options.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 8.6%

Direxion Daily Semiconductors Bull 3x Shares stock opened at $18.60 on Wednesday. Direxion Daily Semiconductors Bull 3x Shares has a 1-year low of $7.23 and a 1-year high of $70.08. The firm’s fifty day simple moving average is $14.24 and its 200-day simple moving average is $23.85. The company has a market capitalization of $13.22 billion, a P/E ratio of 29.41 and a beta of 4.25.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of large investors have recently added to or reduced their stakes in SOXL. Rathbones Group PLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $212,000. Meridian Wealth Management LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.6% during the 1st quarter. Meridian Wealth Management LLC now owns 10,058 shares of the company’s stock worth $160,000 after purchasing an additional 624 shares during the last quarter. Belvedere Trading LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at approximately $2,040,000. Headlands Technologies LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at approximately $663,000. Finally, Smithfield Trust Co acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at approximately $1,387,000.

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.