Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 6.7% – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) traded up 6.7% during trading on Friday . The company traded as high as $32.12 and last traded at $32.01. 19,282,944 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 72,216,727 shares. The stock had previously closed at $29.99.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The firm has a 50 day simple moving average of $29.26 and a two-hundred day simple moving average of $35.87.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently modified their holdings of SOXL. Anchor Investment Management LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after purchasing an additional 585 shares in the last quarter. Covestor Ltd increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after buying an additional 889 shares in the last quarter. Signaturefd LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after buying an additional 300 shares in the last quarter. Bogart Wealth LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth $106,000. Finally, Hollencrest Capital Management lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after acquiring an additional 2,863 shares in 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.