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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $172.52, but opened at $183.84. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $178.01, with a volume of 26,793,125 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market cap of $25.23 billion, a P/E ratio of 35.63 and a beta of 5.55. The firm has a fifty day moving average of $87.06 and a 200-day moving average of $63.77.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Simplex Trading LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 40.2% in the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after purchasing an additional 354,575 shares during the last quarter. Jump Financial LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after purchasing an additional 775,222 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after purchasing an additional 603,324 shares during the period. Group One Trading LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after buying an additional 319,393 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after buying an additional 516,575 shares during the last quarter.

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.