Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month High – Should You Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $106.09 and last traded at $105.64, with a volume of 57083257 shares traded. The stock had previously closed at $98.09.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 7.7%

The business’s 50-day moving average price is $63.35 and its 200-day moving average price is $52.91. The firm has a market capitalization of $15.31 billion, a PE ratio of 35.63 and a beta of 4.55.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares in the last quarter. Addison Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $33,000. Finally, 1248 Management LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter.

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.