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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $266.71, but opened at $237.79. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $243.84, with a volume of 14,818,026 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a fifty day moving average price of $195.60 and a two-hundred day moving average price of $105.95. The stock has a market capitalization of $31.33 billion, a PE ratio of 35.63 and a beta of 5.70.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Optiver Holding B.V. lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 831.0% during the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock worth $13,525,000 after purchasing an additional 251,587 shares during the last quarter. Serenity Investment Advisors bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth about $116,000. Vestor Capital LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 70.0% in the 1st quarter. Vestor Capital LLC now owns 4,326 shares of the company’s stock worth $207,000 after buying an additional 1,782 shares during the period. Western Wealth Management LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth about $33,000. Finally, Lido Advisors LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 120.6% in the 1st quarter. Lido Advisors LLC now owns 13,079 shares of the company’s stock valued at $627,000 after buying an additional 7,150 shares during the period.

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.