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

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) shares gapped down before the market opened on Tuesday. The stock had previously closed at $98.65, but opened at $94.52. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $98.4290, with a volume of 26,010,465 shares changing hands.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The stock has a market cap of $18.73 billion, a PE ratio of 35.63 and a beta of 5.75. The business has a 50-day moving average of $128.30 and a 200 day moving average of $151.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optivise Advisory Services LLC acquired a new stake in Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth approximately $203,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bull 3X ETF in the 3rd quarter worth approximately $222,000. Retirement Planning Co of New England Inc. purchased a new stake in Direxion Daily Semiconductors Bull 3X ETF in the 3rd quarter worth approximately $651,000. Clay Northam Wealth Management LLC raised its holdings in Direxion Daily Semiconductors Bull 3X ETF by 6.8% in the 3rd quarter. Clay Northam Wealth Management LLC now owns 4,715 shares of the company’s stock valued at $697,000 after acquiring an additional 300 shares during the last quarter. Finally, Client First Investment Management LLC raised its holdings in Direxion Daily Semiconductors Bull 3X ETF by 117.3% in the 3rd quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock valued at $4,827,000 after acquiring an additional 17,621 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3X ETF

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.