Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Reaches New 12-Month High – Should You Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $106.09 and last traded at $105.64, with a volume of 57083257 shares traded. The stock had previously closed at $98.09.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 7.7%

The business’s 50-day moving average price is $63.35 and its 200-day moving average price is $52.91. The firm has a market capitalization of $15.31 billion, a PE ratio of 35.63 and a beta of 4.55.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Simplex Trading LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after acquiring an additional 354,575 shares in the last quarter. Jump Financial LLC raised its position 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 acquiring an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC raised its position in 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 valued at $40,912,000 after acquiring an additional 603,324 shares in the last quarter. Group One Trading LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after acquiring an additional 319,393 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after acquiring an additional 516,575 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.