Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Tuesday . The stock had previously closed at $194.65, but opened at $165.40. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $160.74, with a volume of 17,224,401 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a fifty day moving average price of $202.86 and a two-hundred day moving average price of $110.19. The company has a market cap of $18.16 billion, a P/E ratio of 35.63 and a beta of 5.66.

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

Hedge funds have recently bought and sold shares of the company. Simplex Trading LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% in the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after acquiring an additional 354,575 shares in the last quarter. Jump Financial LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after purchasing an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. Group One Trading LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 65.9% in the 2nd quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after buying an additional 319,393 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after buying an additional 516,575 shares in the last quarter.

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.