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

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) shares gapped up before the market opened on Thursday . The stock had previously closed at $103.97, but opened at $113.33. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $113.9090, with a volume of 18,824,577 shares changing hands.

Direxion Daily Semiconductors Bull 3X ETF Stock Up 9.7%

The firm has a market cap of $18.26 billion, a P/E ratio of 35.63 and a beta of 5.73. The firm has a fifty day moving average of $130.38 and a 200-day moving average of $137.72.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Simplex Trading LLC grew its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after buying an additional 354,575 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 95,133.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares during the period. IMC Chicago LLC grew its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after purchasing an additional 324,775 shares during the period. Optiver Holding B.V. grew its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% in the 1st quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after purchasing an additional 251,587 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 53.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 99,847 shares of the company’s stock worth $4,197,000 after purchasing an additional 34,932 shares in the last quarter.

Direxion Daily Semiconductors Bull 3X ETF 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.