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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $15.95, but opened at $15.19. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $15.85, with a volume of 16,690,680 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 1.1 %

The stock’s fifty day simple moving average is $24.00 and its two-hundred day simple moving average is $29.07. The firm has a market cap of $6.98 billion, a PE ratio of 22.62 and a beta of 4.11.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were paid a $0.0648 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Copia Wealth Management purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $36,000. LM Advisors LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 667.3% during the fourth quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock valued at $2,054,000 after buying an additional 65,400 shares during the last quarter. Visionary Wealth Advisors raised its position in Direxion Daily Semiconductors Bull 3x Shares by 6.8% in the fourth quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after acquiring an additional 613 shares during the period. Morse Asset Management Inc boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the 4th quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock worth $844,000 after acquiring an additional 368 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% in the 4th quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock worth $8,193,000 after purchasing an additional 299,744 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.