Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL – Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 31,385,384 shares, a growth of 185.4% from the September 30th total of 10,996,149 shares. Approximately 13.9% of the shares of the stock are sold short. Based on an average trading volume of 74,189,395 shares, the days-to-cover ratio is presently 0.4 days.
Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF
Institutional investors and hedge funds have recently made changes to their positions in the business. Hoey Investments Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the 3rd quarter worth about $909,000. PayPay Securities Corp increased its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 105.8% during the third quarter. PayPay Securities Corp now owns 856 shares of the company’s stock valued at $127,000 after acquiring an additional 440 shares in the last quarter. Signaturefd LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the third quarter valued at approximately $344,000. Sowell Financial Services LLC purchased a new position in Direxion Daily Semiconductors Bull 3X ETF in the 3rd quarter worth approximately $296,000. Finally, Variant Private Wealth LLC purchased a new position in Direxion Daily Semiconductors Bull 3X ETF in the 3rd quarter worth approximately $2,705,000.
Direxion Daily Semiconductors Bull 3X ETF Stock Down 6.9%
Shares of NYSEARCA:SOXL traded down $7.37 during trading on Thursday, hitting $99.98. 62,263,510 shares of the company were exchanged, compared to its average volume of 73,449,820. Direxion Daily Semiconductors Bull 3X ETF has a 1-year low of $28.12 and a 1-year high of $302.00. The business’s 50 day moving average is $122.34 and its 200-day moving average is $123.16. The company has a market capitalization of $25.41 billion, a P/E ratio of 35.63 and a beta of 5.75.
Direxion Daily Semiconductors Bull 3X ETF 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.
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