Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 5% Higher – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) were up 5% on Wednesday . The stock traded as high as $8.94 and last traded at $8.66. Approximately 167,329,871 shares traded hands during trading, an increase of 91% from the average daily volume of 87,462,386 shares. The stock had previously closed at $8.25.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 6.3 %

The stock has a market capitalization of $3.88 billion, a PE ratio of 22.62 and a beta of 4.11. The stock has a 50 day moving average price of $21.67 and a 200-day moving average price of $28.15.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.0648 per share. This is a boost from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently bought and sold shares of SOXL. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at approximately $27,180,000. BNP Paribas Financial Markets grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% during the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock worth $8,193,000 after purchasing an additional 299,744 shares in the last quarter. Simplex Trading LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the 4th quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after purchasing an additional 235,607 shares in the last quarter. TB Alternative Assets Ltd. boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after purchasing an additional 141,941 shares during the period. Finally, Variant Private Wealth LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at approximately $2,030,000.

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.