Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 52-Week High – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) hit a new 52-week high during trading on Monday . The company traded as high as $55.00 and last traded at $55.0380, with a volume of 38967990 shares. The stock had previously closed at $53.95.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 1.3%

The stock has a 50 day simple moving average of $43.07 and a 200-day simple moving average of $35.51. The firm has a market cap of $13.73 billion, a P/E ratio of 35.63 and a beta of 4.52.

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

Several hedge funds have recently made changes to their positions in the company. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $22,677,000. Jump Financial LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after purchasing an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.1% in the second quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock valued at $41,915,000 after acquiring an additional 526,417 shares in the last quarter. Finally, Elevatus Welath Management purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at about $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.