May Hill Capital Invests $210,000 in Direxion Daily Semiconductors Fund

May Hill Capital LLC has made a significant investment in the Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA: SOXL), acquiring a new stake during the second quarter of 2023. According to the firm’s recent Form 13F filing with the Securities and Exchange Commission, May Hill Capital purchased 8,345 shares valued at approximately $210,000.

Several other institutional investors have also adjusted their holdings in this semiconductor exchange-traded fund. Notably, Optimum Investment Advisors increased its stake by an impressive 550.0%, now owning 1,300 shares valued at $33,000 after acquiring an additional 1,100 shares during the same period.

Another firm, St. Johns Investment Management Company LLC, expanded its position in SOXL by 55.1%, bringing its total to 4,468 shares worth $112,000 after a purchase of 1,588 shares. Similarly, Bogart Wealth LLC boosted its investment by 88.9%, now holding 8,500 shares valued at $213,000 following the acquisition of 4,000 shares.

Additionally, Stratos Wealth Advisors LLC increased its holdings by 38.6%, now owning 30,793 shares worth $773,000 after purchasing 8,579 shares. Meanwhile, Triton Wealth Management PLLC made headlines with a new investment in SOXL valued at approximately $1,327,000 during the second quarter.

Current Performance of Direxion Daily Semiconductors Bull 3x Shares

As of Wednesday, shares of SOXL opened at $46.96. The fund’s performance metrics reveal a 50-day moving average of $33.89 and a 200-day moving average of $25.15. With a market capitalization of $15.07 billion and a P/E ratio of 35.63, the fund has demonstrated considerable volatility, reflected in its beta of 4.52.

The fund has fluctuated significantly over the past year, with a 52-week low of $7.22 and a high of $47.61.

Overview of Direxion Daily Semiconductors Bull 3x Shares

The Direxion Daily Semiconductors Bull 3X Shares is designed to provide three times the daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. Launched on March 11, 2010, the fund is managed by Direxion and has attracted attention from various institutional investors due to its aggressive investment strategy.

The increasing interest from institutional investors such as May Hill Capital and others highlights the growing confidence in the semiconductor sector, which plays a crucial role in the global technology landscape. As these investments continue to evolve, they may indicate a positive outlook for the future performance of semiconductor-related equities.