Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $39.22, but opened at $35.74. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $39.8210, with a volume of 59,531,369 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The company’s 50-day simple moving average is $38.26 and its 200-day simple moving average is $27.93.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors have recently added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $22,677,000. Jump Financial LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after acquiring an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 46.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock valued at $41,915,000 after purchasing an additional 526,417 shares during the period. Finally, Elevatus Welath Management acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth approximately $9,517,000.

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.