Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 52-Week High – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price reached a new 52-week high on Monday . The company traded as high as $51.22 and last traded at $50.8350, with a volume of 36474444 shares traded. The stock had previously closed at $47.24.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 4.5%

The business has a 50 day moving average price of $42.54 and a 200 day moving average price of $34.27. The stock has a market cap of $14.90 billion, a P/E ratio of 35.63 and a beta of 4.52.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in SOXL. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth about $22,677,000. Jump Financial LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after buying an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after buying an additional 603,324 shares during the period. SBI Securities Co. Ltd. boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 46.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock valued at $41,915,000 after buying an additional 526,417 shares during the period. Finally, Elevatus Welath Management bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $9,517,000.

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.