Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 12.8% – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price traded up 12.8% on Tuesday . The stock traded as high as $157.12 and last traded at $154.33. 16,351,590 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 74,416,055 shares. The stock had previously closed at $136.81.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company’s 50-day simple moving average is $207.09 and its 200-day simple moving average is $118.81. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $25,000. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $25,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after buying an additional 138 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at about $33,000. Finally, 1248 Management LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares during the period.

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.