Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sets New 52-Week High – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week high during trading on Thursday . The stock traded as high as $166.00 and last traded at $165.85, with a volume of 64256716 shares trading hands. The stock had previously closed at $144.16.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a 50 day moving average of $75.18 and a 200 day moving average of $58.81. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 35.63 and a beta of 5.55.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently added to or reduced their stakes in SOXL. Flow Traders U.S. LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $258,000. NewEdge Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $270,000. HUB Investment Partners LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $326,000. Raymond James Financial Inc. purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $25,000. Finally, Bank of America Corp DE grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 75.2% in the 2nd quarter. Bank of America Corp DE now owns 174,241 shares of the company’s stock valued at $4,375,000 after buying an additional 74,815 shares in the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

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.