Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month High – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $285.87 and last traded at $285.50, with a volume of 44695237 shares changing hands. The stock had previously closed at $233.86.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 20.4%

The stock has a 50-day moving average of $163.92 and a 200 day moving average of $92.70. The stock has a market cap of $38.14 billion, a PE ratio of 35.63 and a beta of 5.70.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SOXL. Flow Traders U.S. LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at about $258,000. NewEdge Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $270,000. HUB Investment Partners LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at about $326,000. Raymond James Financial Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at about $25,000. Finally, Bank of America Corp DE boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 75.2% in the 2nd quarter. Bank of America Corp DE now owns 174,241 shares of the company’s stock valued at $4,375,000 after purchasing an additional 74,815 shares during the last quarter.

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.