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February 1, 2021
While the capital markets saw retail traders piling into GameStop last week, not all the action was relegated to the video game provider. Direxion Investments saw heightened inflows in their leveraged and sectoral funds.
At the top of the heap was a focus on semiconductors. A heavier reliance on technology is driving a need for chips to process data. Short-term investors in leveraged funds have been capitalizing on the chip trade.
Direxion Daily Semiconductor Bull 3X ETF (NYSEArca: SOXL): for traders seeking a leveraged trade, SOXL seeks daily investment results, before fees and expenses, of 300% of the daily performance of the PHLX Semiconductor Sector Index. The fund, under normal circumstances, invests at least 80% of its net assets in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index, and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index