Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Stock Price Up 13.9% – Here’s What Happened

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s share price rose 13.9% during mid-day trading on Friday. The stock traded as high as $49.41 and last traded at $46.5380. 119,552,641 shares were traded during trading, an increase of 53% from the average daily volume of 78,127,742 shares. The stock had previously closed at $40.87.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The business’s 50 day simple moving average is $116.76 and its 200 day simple moving average is $123.61. The company has a market capitalization of $10.94 billion, a PE ratio of 35.63 and a beta of 5.93.

Institutional Trading of Direxion Daily Semiconductors Bull 3X ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Simplex Trading LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the 3rd quarter valued at approximately $29,328,000. RHL Group LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF in the third quarter valued at approximately $227,000. Crosspoint Financial LLC lifted its holdings in Direxion Daily Semiconductors Bull 3X ETF by 28.5% in the third quarter. Crosspoint Financial LLC now owns 1,808 shares of the company’s stock valued at $267,000 after acquiring an additional 401 shares during the last quarter. M Holdings Securities Inc. grew its position in Direxion Daily Semiconductors Bull 3X ETF by 4.5% in the third quarter. M Holdings Securities Inc. now owns 47,601 shares of the company’s stock worth $7,038,000 after acquiring an additional 2,048 shares during the period. Finally, Brighton Jones LLC grew its position in Direxion Daily Semiconductors Bull 3X ETF by 30.0% in the third quarter. Brighton Jones LLC now owns 6,026 shares of the company’s stock worth $891,000 after acquiring an additional 1,391 shares during the period.

About Direxion Daily Semiconductors Bull 3X ETF

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.