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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Thursday . The stock had previously closed at $57.04, but opened at $54.19. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $52.72, with a volume of 26,484,598 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a fifty day simple moving average of $60.16 and a two-hundred day simple moving average of $47.66. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

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

Hedge funds have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth approximately $25,000. Raymond James Financial Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $25,000. Addison Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at $33,000. 1248 Management LLC boosted its holdings 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 valued at $34,000 after acquiring an additional 200 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth $36,000.

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.