Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sees Large Increase in Short Interest

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 15,579,844 shares, an increase of 78.7% from the December 31st total of 8,716,963 shares. Approximately 7.4% of the shares of the stock are short sold. Based on an average trading volume of 82,833,168 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 82,833,168 shares, the short-interest ratio is presently 0.2 days. Approximately 7.4% of the shares of the stock are short sold.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 12.3%

Shares of NYSEARCA SOXL traded down $8.68 during midday trading on Friday, reaching $61.79. 82,965,495 shares of the stock were exchanged, compared to its average volume of 76,070,797. The company has a market capitalization of $12.66 billion, a P/E ratio of 35.63 and a beta of 4.52. The stock has a 50 day moving average price of $49.34 and a 200-day moving average price of $39.02. Direxion Daily Semiconductors Bull 3x Shares has a 52-week low of $7.22 and a 52-week high of $71.98.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXL. NRI Wealth Management LC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth about $981,000. Prime Capital Investment Advisors LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 49.1% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 20,686 shares of the company’s stock worth $519,000 after buying an additional 6,810 shares during the last quarter. Triton Wealth Management PLLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth approximately $1,327,000. Stratos Wealth Advisors LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 38.6% in the 2nd quarter. Stratos Wealth Advisors LLC now owns 30,793 shares of the company’s stock valued at $773,000 after acquiring an additional 8,579 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 88.9% during the 2nd quarter. Bogart Wealth LLC now owns 8,500 shares of the company’s stock valued at $213,000 after acquiring an additional 4,000 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.