Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down prior to trading on Tuesday . The stock had previously closed at $48.58, but opened at $44.77. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $46.3870, with a volume of 30,910,756 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market cap of $13.13 billion, a PE ratio of 35.63 and a beta of 4.52. The firm’s 50 day moving average price is $35.63 and its two-hundred day moving average price is $26.33.

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

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $25,000. Optimum Investment Advisors grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 550.0% during the second quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock valued at $33,000 after acquiring an additional 1,100 shares in the last quarter. Quent Capital LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at approximately $71,000. Spire Wealth Management grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 52.1% during the third quarter. Spire Wealth Management now owns 2,926 shares of the company’s stock valued at $102,000 after acquiring an additional 1,002 shares in the last quarter. Finally, St. Johns Investment Management Company LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 55.1% during the second quarter. St. Johns Investment Management Company LLC now owns 4,468 shares of the company’s stock valued at $112,000 after acquiring an additional 1,588 shares in the last quarter.

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.