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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Monday . The stock had previously closed at $62.77, but opened at $58.11. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $60.4190, with a volume of 24,809,214 shares.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 1.2%

The company’s 50-day moving average price is $57.95 and its two-hundred day moving average price is $44.35. The company has a market cap of $11.94 billion, a P/E ratio of 35.63 and a beta of 4.52.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently modified their holdings of SOXL. Avestar Capital LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 232.9% during the second quarter. Avestar Capital LLC now owns 264,996 shares of the company’s stock valued at $6,654,000 after buying an additional 185,383 shares in the last quarter. APEIRON CAPITAL Ltd purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at approximately $4,181,000. Dakota Community Bank & Trust NA acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $791,000. Orion Porfolio Solutions LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at $1,657,000. Finally, Vestor Capital LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $2,684,000.

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.