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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down prior to trading on Monday . The stock had previously closed at $28.06, but opened at $26.44. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $26.97, with a volume of 20,047,893 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a fifty day simple moving average of $29.58 and a 200-day simple moving average of $36.33. The stock has a market cap of $7.31 billion, a P/E ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Anchor Investment Management LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 585 shares during the last quarter. Covestor Ltd boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after acquiring an additional 889 shares during the period. Signaturefd LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after acquiring an additional 300 shares in the last quarter. Bogart Wealth LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $106,000. Finally, Hollencrest Capital Management grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after purchasing an additional 2,863 shares in 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.