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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $62.60 and last traded at $63.9180, with a volume of 25968714 shares changing hands. The stock had previously closed at $57.94.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business’s fifty day simple moving average is $44.83 and its two-hundred day simple moving average is $36.88. The company has a market cap of $14.35 billion, a PE ratio of 35.63 and a beta of 4.52.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth approximately $25,000. Optimum Investment Advisors lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 550.0% in the second quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock valued at $33,000 after acquiring an additional 1,100 shares during the last quarter. Addison Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth $33,000. ORG Wealth Partners LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth $36,000. Finally, Quent Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth about $71,000.

About Direxion Daily Semiconductors Bull 3x Shares

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.