Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Up 15.9% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares shot up 15.9% on Tuesday . The stock traded as high as $136.14 and last traded at $135.25. 26,660,209 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 75,470,148 shares. The stock had previously closed at $116.71.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 5.6%

The stock has a market capitalization of $22.37 billion, a P/E ratio of 35.63 and a beta of 5.73. The firm’s fifty day moving average is $194.58 and its 200-day moving average is $125.48.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in SOXL. Key Client Fiduciary Advisors LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at about $474,000. Client First Investment Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at about $4,007,000. Vigilare Wealth Management acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at approximately $498,000. Optiver Holding B.V. boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 831.0% during the 1st quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock worth $13,525,000 after acquiring an additional 251,587 shares during the last quarter. Finally, Serenity Investment Advisors acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at approximately $116,000.

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.