Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $151.89, but opened at $161.00. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $165.96, with a volume of 14,256,495 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 12.3%

The firm has a market capitalization of $23.11 billion, a price-to-earnings ratio of 35.63 and a beta of 5.55. The stock has a 50 day moving average of $93.23 and a 200 day moving average of $66.06.

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

Hedge funds have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth about $25,000. Raymond James Financial Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth about $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares during the period. Addison Advisors LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth $33,000. Finally, Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth $33,000.

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.