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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Monday . The stock had previously closed at $234.68, but opened at $265.99. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $270.31, with a volume of 11,458,205 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 15.4%

The company has a market capitalization of $36.71 billion, a PE ratio of 35.63 and a beta of 5.70. The firm has a fifty day moving average of $152.47 and a two-hundred day moving average of $88.34.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after buying an additional 138 shares during the period. Verus Capital Partners LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 1.7% during the 4th quarter. Verus Capital Partners LLC now owns 11,774 shares of the company’s stock valued at $495,000 after buying an additional 200 shares in the last quarter. 1248 Management LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. SteelPeak Wealth LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the 1st quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after buying an additional 266 shares in the last quarter. Finally, Kaizen Financial Strategies increased its position in Direxion Daily Semiconductors Bull 3x Shares by 4.6% during the 1st quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock valued at $381,000 after buying an additional 350 shares in the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

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.