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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $57.04, but opened at $54.19. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $52.72, with a volume of 26,484,598 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 10.6%

The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The stock has a 50 day moving average price of $60.16 and a 200 day moving average price of $47.66.

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

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 25.0% in the second quarter. Creative Planning now owns 33,622 shares of the company’s stock valued at $844,000 after purchasing an additional 6,729 shares during the period. M Holdings Securities Inc. raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 54.3% during the second quarter. M Holdings Securities Inc. now owns 35,866 shares of the company’s stock worth $901,000 after acquiring an additional 12,620 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth approximately $258,000. Avestar Capital LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 232.9% in the second quarter. Avestar Capital LLC now owns 264,996 shares of the company’s stock valued at $6,654,000 after acquiring an additional 185,383 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at approximately $10,489,000.

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.