SOXS - Semiconductor ETFs hit all-time highs as global chip shortage persists

The Direxion Daily Semiconductor 3x Bull Shares ETF (NYSEARCA:SOXL) has hit an all-time high on Monday's trading session. The fund has also surged more than 23% over the past week and a half dating back to Aug 19, as the global semiconductor chip shortage continues to weigh on certain regions of the market, such as automobiles and smartphones. SOXL, a 3X leveraged fund that invests in derivatives and stocks in the semiconductors and semiconductor equipment sectors, is not the only chip ETF hitting an all-time high of late. Other semiconductor ETFs are also up since Aug 19, such as (NASDAQ:SOXX), which is +9.12%, (NASDAQ:SMH) +9.56%, and (NYSEARCA:XSD) +10.18%. From a further out point of view SOXL is +52.10% YTD, SOXX +24.22% YTD, SMH +24.55% YTD, and XSD is +19.09% YTD. Additionally, the Direxion Daily Semiconductor 3x Bear Shares ETF (NYSEARCA:SOXS), the inverse fund to SOXL, is -22.18% since Aug 19 and -65.33% YTD. There is a current surge of COVID cases in Asia, specifically in Malaysia, which is a

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Semiconductor ETFs hit all-time highs as global chip shortage persists