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 before the market opened on Tuesday . The stock had previously closed at $123.39, but opened at $108.75. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $110.60, with a volume of 34,556,213 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a market capitalization of $15.24 billion, a PE ratio of 35.63 and a beta of 4.55. The stock’s 50 day simple moving average is $66.79 and its 200-day simple moving average is $54.69.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several large investors have recently bought and sold shares of the stock. St. Johns Investment Management Company LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth approximately $38,000. Halbert Hargrove Global Advisors LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after acquiring an additional 138 shares during the last quarter. Discipline Wealth Solutions LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth approximately $509,000. SG Americas Securities LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth approximately $328,000. Finally, SHP Wealth Management purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at approximately $57,000.

About Direxion Daily Semiconductors Bull 3x Shares

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.