Short Interest in Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Increases By 40.7%

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 26,090,951 shares, an increase of 40.7% from the March 15th total of 18,548,005 shares. Currently, 11.9% of the shares of the company are sold short. Based on an average trading volume of 99,663,945 shares, the short-interest ratio is currently 0.3 days.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

Shares of SOXL stock opened at $88.37 on Friday. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 35.63 and a beta of 4.55. Direxion Daily Semiconductors Bull 3x Shares has a 52 week low of $8.15 and a 52 week high of $89.39. The firm’s 50-day simple moving average is $60.61 and its two-hundred day simple moving average is $51.08.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at approximately $328,000. SHP Wealth Management bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $57,000. Kovitz Investment Group Partners LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 171.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 15,993 shares of the company’s stock valued at $672,000 after purchasing an additional 10,100 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $548,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $1,293,000.

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.