Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sees Large Volume Increase – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares saw unusually-strong trading volume on Tuesday . Approximately 86,246,543 shares traded hands during mid-day trading, a decline of 9% from the previous session’s volume of 94,908,559 shares.The stock last traded at $10.63 and had previously closed at $10.47.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a market capitalization of $4.13 billion, a PE ratio of 22.62 and a beta of 4.11. The company’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $27.03.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently bought and sold shares of SOXL. PNC Financial Services Group Inc. grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock worth $219,000 after acquiring an additional 2,313 shares during the last quarter. Barclays PLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 57.2% during the 3rd quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after purchasing an additional 8,890 shares during the period. HighTower Advisors LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 55.7% during the 3rd quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock worth $335,000 after purchasing an additional 3,263 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at $29,000. Finally, LM Advisors LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 667.3% in the fourth quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock valued at $2,054,000 after buying an additional 65,400 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.