Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Stock Price Up 5.7% – Should You Buy?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shot up 5.7% during trading on Friday . The company traded as high as $36.26 and last traded at $36.23. 11,032,677 shares were traded during mid-day trading, a decline of 85% from the average session volume of 74,757,750 shares. The stock had previously closed at $34.29.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $9.56 billion, a P/E ratio of 37.08 and a beta of 5.47. The company’s 50-day moving average is $35.25 and its two-hundred day moving average is $42.91.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 98.9% during the first quarter. Covestor Ltd now owns 1,760 shares of the company’s stock worth $82,000 after acquiring an additional 875 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after purchasing an additional 300 shares during the last quarter. VitalStone Financial LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 437.1% during the 1st quarter. VitalStone Financial LLC now owns 2,186 shares of the company’s stock valued at $102,000 after purchasing an additional 1,779 shares during the last quarter. Bogart Wealth LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth approximately $106,000. Finally, Onyx Bridge Wealth Group LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at approximately $219,000.

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.