Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Up 8% – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price shot up 8% during mid-day trading on Friday . The company traded as high as $41.92 and last traded at $41.6730. 23,644,008 shares changed hands during trading, a decline of 81% from the average session volume of 122,578,602 shares. The stock had previously closed at $38.58.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 8.7%

The stock has a market cap of $12.29 billion, a P/E ratio of 35.63 and a beta of 4.52. The stock has a 50 day simple moving average of $41.68 and a 200 day simple moving average of $32.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $22,677,000. Jump Financial LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after acquiring an additional 775,222 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after acquiring an additional 603,324 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock worth $41,915,000 after acquiring an additional 526,417 shares in the last quarter. Finally, Elevatus Welath Management bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at approximately $9,517,000.

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.