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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $190.42, but opened at $177.62. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $180.62, with a volume of 13,921,503 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a fifty day simple moving average of $79.78 and a two-hundred day simple moving average of $60.81. The stock has a market cap of $21.61 billion, a PE ratio of 35.63 and a beta of 5.55.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of 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 valued at $27,000 after buying an additional 138 shares during the period. Addison Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $33,000. Finally, 1248 Management LLC raised its position in shares of 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 worth $34,000 after purchasing 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.