Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Hits New 12-Month High – Time to Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) hit a new 52-week high on Monday . The stock traded as high as $51.22 and last traded at $50.8350, with a volume of 36474444 shares traded. The stock had previously closed at $47.24.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s 50 day moving average price is $42.73 and its 200-day moving average price is $34.70. The firm has a market capitalization of $15.79 billion, a PE ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock worth $41,915,000 after acquiring an additional 526,417 shares in the last quarter. Jump Financial LLC increased its stake 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 lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at approximately $22,677,000. Finally, Group One Trading LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 65.9% in the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after purchasing an additional 319,393 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.