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 Wednesday. The stock had previously closed at $164.26, but opened at $153.70. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $154.0360, with a volume of 15,278,406 shares changing hands.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The business has a 50-day moving average of $128.40 and a 200 day moving average of $146.83. The stock has a market cap of $25.30 billion, a PE ratio of 35.63 and a beta of 5.75.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

A number of hedge funds and other institutional investors have recently modified their holdings of SOXL. Simplex Trading LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after buying an additional 354,575 shares during the period. IMC Chicago LLC raised its holdings in 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 acquiring an additional 324,775 shares during the last quarter. Optiver Holding B.V. lifted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% during the 1st 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 period. M Holdings Securities Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the fourth quarter worth $2,212,000. Finally, SteelPeak Wealth LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 1.2% during the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock worth $1,090,000 after purchasing an additional 266 shares during 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.