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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down prior to trading on Tuesday . The stock had previously closed at $190.42, but opened at $177.62. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $180.62, with a volume of 13,921,503 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock’s fifty day moving average is $79.78 and its two-hundred day moving average is $60.81. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of 35.63 and a beta of 5.55.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock worth $1,090,000 after buying an additional 266 shares during the last quarter. IMC Chicago LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 550.1% in the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after purchasing an additional 324,775 shares in the last quarter. Calamos Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth about $340,000. WJ Financial Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $398,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at about $133,000.

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.