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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened 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 Stock Down 8.2%

The company has a market capitalization of $12.60 billion, a PE ratio of 35.63 and a beta of 4.52. The firm’s 50-day moving average is $36.59 and its 200-day moving average is $26.83.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $25,000. Optimum Investment Advisors raised its position in Direxion Daily Semiconductors Bull 3x Shares by 550.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock worth $33,000 after purchasing an additional 1,100 shares during the period. Quent Capital LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth $71,000. Bogart Wealth LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth $72,000. Finally, Signaturefd LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 50.0% during the first quarter. Signaturefd LLC now owns 4,500 shares of the company’s stock valued at $72,000 after buying an additional 1,500 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.