Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Hits New 1-Year High – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $78.30 and last traded at $76.39, with a volume of 78103175 shares. The stock had previously closed at $71.98.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a market capitalization of $16.72 billion, a price-to-earnings ratio of 35.63 and a beta of 4.55. The stock’s fifty day simple moving average is $58.46 and its 200-day simple moving average is $49.88.

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

A number of hedge funds and other institutional investors have recently modified their holdings of SOXL. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $258,000. NewEdge Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $270,000. HUB Investment Partners LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $326,000. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $25,000. Finally, Bank of America Corp DE raised its holdings in shares of 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 purchasing an additional 74,815 shares in the last quarter.

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.