Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Sees Strong Trading Volume – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) saw unusually-high trading volume on Monday . Approximately 86,803,695 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 97,337,269 shares.The stock last traded at $8.39 and had previously closed at $9.20.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a 50 day moving average price of $18.70 and a 200 day moving average price of $26.56. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 15.60 and a beta of 4.11.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth $32,000. Copia Wealth Management purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth about $36,000. Lindbrook Capital LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after buying an additional 600 shares in the last quarter. Finally, Anchor Investment Management LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares in the last quarter.

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.