Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 7.6% Higher – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) rose 7.6% during trading on Monday . The stock traded as high as $20.45 and last traded at $20.64. Approximately 33,811,596 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 114,873,410 shares. The stock had previously closed at $19.18.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 35.63 and a beta of 4.28. The company has a 50 day moving average of $13.79 and a 200 day moving average of $22.06.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SOXL. Morse Asset Management Inc increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the 4th quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock worth $844,000 after purchasing an additional 368 shares during the last quarter. PayPay Securities Corp raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% in the 4th quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after buying an additional 403 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after buying an additional 600 shares in the last quarter. Visionary Wealth Advisors raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.8% in the 4th quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after buying an additional 613 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.6% during the first quarter. Meridian Wealth Management LLC now owns 10,058 shares of the company’s stock worth $160,000 after purchasing an additional 624 shares during the period.

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.