Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Tuesday . The stock had previously closed at $300.77, but opened at $236.00. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $246.26, with a volume of 19,742,144 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $32.06 billion, a PE ratio of 35.63 and a beta of 5.70. The firm’s 50 day simple moving average is $177.18 and its 200 day simple moving average is $97.86.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in SOXL. Pin Oak Investment Advisors Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth $25,000. Raymond James Financial Inc. purchased a new stake in 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 buying an additional 138 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $33,000. Finally, 1248 Management LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the period.

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.