Short Interest in Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Drops By 60.7%

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 8,716,963 shares, a decrease of 60.7% from the December 15th total of 22,158,837 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 66,030,477 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 66,030,477 shares, the days-to-cover ratio is currently 0.1 days. Currently, 3.5% of the shares of the company are sold short.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 194.9% in the 2nd quarter. Parallel Advisors LLC now owns 16,257 shares of the company’s stock worth $408,000 after purchasing an additional 10,745 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 772.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 12,220 shares of the company’s stock worth $307,000 after purchasing an additional 10,820 shares in the last quarter. Abound Wealth Management bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at $136,000. Surience Private Wealth LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at approximately $1,311,000. Finally, NRI Wealth Management LC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $981,000.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

NYSEARCA SOXL traded down $0.69 during trading hours on Wednesday, hitting $55.38. The company had a trading volume of 70,062,647 shares, compared to its average volume of 82,028,703. The firm has a 50 day simple moving average of $43.51 and a 200 day simple moving average of $35.86. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. Direxion Daily Semiconductors Bull 3x Shares has a 52 week low of $7.22 and a 52 week high of $57.63.

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.