Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 7.3% Higher – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price shot up 7.3% during trading on Tuesday . The company traded as high as $65.10 and last traded at $65.1370. 18,747,979 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 72,800,531 shares. The stock had previously closed at $60.70.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market cap of $14.78 billion, a PE ratio of 35.63 and a beta of 4.52. The business has a 50 day moving average price of $48.74 and a two-hundred day moving average price of $38.61.

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

Several institutional investors have recently added to or reduced their stakes in SOXL. Avestar Capital LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 232.9% during the second quarter. Avestar Capital LLC now owns 264,996 shares of the company’s stock valued at $6,654,000 after acquiring an additional 185,383 shares in the last quarter. Dakota Community Bank & Trust NA bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at $791,000. Stratos Wealth Advisors LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 38.6% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 30,793 shares of the company’s stock valued at $773,000 after purchasing an additional 8,579 shares during the period. Orion Porfolio Solutions LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth $1,657,000. Finally, APEIRON CAPITAL Ltd purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth about $4,181,000.

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.