Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $151.89, but opened at $161.00. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $165.96, with a volume of 14,256,495 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a 50-day simple moving average of $98.10 and a 200 day simple moving average of $67.86. The company has a market capitalization of $24.17 billion, a PE ratio of 35.63 and a beta of 5.55.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Large investors have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at about $25,000. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after acquiring an additional 138 shares in the last quarter. Addison Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at about $33,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $33,000.

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.