Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Short Interest Up 68.6% in July

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 30,488,090 shares, an increase of 68.6% from the July 15th total of 18,086,765 shares. Approximately 18.0% of the company’s stock are sold short. Based on an average daily volume of 87,118,209 shares, the short-interest ratio is currently 0.3 days.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 16.7%

Shares of SOXL traded down $25.37 during trading hours on Tuesday, reaching $126.16. 61,406,643 shares of the stock traded hands, compared to its average volume of 74,456,469. Direxion Daily Semiconductors Bull 3x Shares has a 52 week low of $23.66 and a 52 week high of $302.00. The company has a market cap of $21.37 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73. The stock has a fifty day simple moving average of $179.38 and a 200 day simple moving average of $129.89.

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

Hedge funds have recently modified their holdings of the company. Flow Traders U.S. LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth approximately $258,000. NewEdge Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $270,000. HUB Investment Partners LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $326,000. Raymond James Financial Inc. bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $25,000. Finally, Bank of America Corp DE lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 75.2% during the second quarter. Bank of America Corp DE now owns 174,241 shares of the company’s stock worth $4,375,000 after acquiring an additional 74,815 shares during the period.

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.