Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sets New 12-Month High – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares reached a new 52-week high during trading on Monday . The stock traded as high as $55.00 and last traded at $55.0380, with a volume of 38967990 shares changing hands. The stock had previously closed at $53.95.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 1.3%

The business has a 50-day simple moving average of $43.07 and a two-hundred day simple moving average of $35.51. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently made changes to their positions in SOXL. Addison Advisors LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $33,000. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $25,000. Optimum Investment Advisors grew its position 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 purchasing an additional 1,100 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth about $71,000. Finally, Spire Wealth Management grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 52.1% in the 3rd quarter. Spire Wealth Management now owns 2,926 shares of the company’s stock valued at $102,000 after acquiring an additional 1,002 shares in the last quarter.

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.