Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 3.7% – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were up 3.7% on Monday . The company traded as high as $29.20 and last traded at $28.23. Approximately 24,871,470 shares were traded during trading, a decline of 67% from the average daily volume of 75,341,297 shares. The stock had previously closed at $27.22.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business has a 50-day moving average of $31.16 and a 200-day moving average of $39.32. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SOXL. Creative Planning acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth approximately $216,000. Prime Capital Investment Advisors LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 14.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock valued at $302,000 after purchasing an additional 1,018 shares during the last quarter. Signaturefd LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after buying an additional 300 shares during the last quarter. Campbell Capital Management Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at $1,064,000. Finally, Avaii Wealth Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at $525,000.

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.