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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $63.34, but opened at $67.21. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $63.9160, with a volume of 26,498,726 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market cap of $12.91 billion, a PE ratio of 35.63 and a beta of 4.52. The company has a 50 day moving average price of $52.24 and a two-hundred day moving average price of $40.68.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOXL. JPMorgan Chase & Co. raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 339,984.7% during the 4th quarter. JPMorgan Chase & Co. now owns 200,650 shares of the company’s stock valued at $8,433,000 after buying an additional 200,591 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 5.8% in the 4th quarter. Parallel Advisors LLC now owns 16,507 shares of the company’s stock worth $694,000 after buying an additional 900 shares during the last quarter. Verus Capital Partners LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.7% in the fourth quarter. Verus Capital Partners LLC now owns 11,774 shares of the company’s stock worth $495,000 after acquiring an additional 200 shares during the period. Avestar Capital LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth $2,514,000. Finally, Foundations Investment Advisors LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 21.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 9,741 shares of the company’s stock valued at $409,000 after acquiring an additional 1,706 shares during 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.