Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 12.8% Higher – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares shot up 12.8% during mid-day trading on Tuesday . The stock traded as high as $157.12 and last traded at $154.33. 16,351,590 shares were traded during trading, a decline of 78% from the average session volume of 74,416,055 shares. The stock had previously closed at $136.81.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a 50-day moving average of $207.09 and a 200 day moving average of $118.81. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jump Financial LLC boosted 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 worth $41,562,000 after purchasing an additional 775,222 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% in 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 purchasing an additional 603,324 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares during the period. Simplex Trading LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after buying an additional 354,575 shares during the last quarter. Finally, IMC Chicago LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.1% during the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after buying an additional 324,775 shares during 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.