Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Time to Sell?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Thursday . The stock had previously closed at $280.54, but opened at $242.04. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $238.53, with a volume of 15,302,170 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm’s 50 day moving average price is $136.15 and its 200-day moving average price is $81.80. The firm has a market capitalization of $24.73 billion, a PE ratio of 35.63 and a beta of 5.70.

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

Hedge funds have recently modified their holdings of the company. Avestar Capital LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth about $2,514,000. SteelPeak Wealth LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 152.8% during the 4th quarter. SteelPeak Wealth LLC now owns 22,491 shares of the company’s stock worth $945,000 after acquiring an additional 13,593 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after acquiring an additional 516,575 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 91.1% during the 4th quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock worth $297,000 after purchasing an additional 3,366 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 8.4% during the 4th quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock worth $1,761,000 after purchasing an additional 3,233 shares during the last quarter.

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.