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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Monday . The stock had previously closed at $192.26, but opened at $174.61. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $166.95, with a volume of 12,598,630 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock’s 50-day moving average is $207.77 and its 200 day moving average is $114.17. The stock has a market capitalization of $22.98 billion, a PE ratio of 35.63 and a beta of 5.66.

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

Several hedge funds have recently made changes to their positions in SOXL. Avestar Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $2,514,000. Northwestern Mutual Wealth Management Co. increased its position in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after buying an additional 516,575 shares during the period. SteelPeak Wealth LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 152.8% in the fourth quarter. SteelPeak Wealth LLC now owns 22,491 shares of the company’s stock valued at $945,000 after buying an additional 13,593 shares during the last quarter. HighTower Advisors LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 8.4% in the fourth quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock valued at $1,761,000 after buying an additional 3,233 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 91.1% in the fourth quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock valued at $297,000 after acquiring an additional 3,366 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.