Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Should You Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $144.95, but opened at $150.61. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $153.37, with a volume of 11,813,095 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market capitalization of $26.25 billion, a P/E ratio of 35.63 and a beta of 5.73. The stock has a fifty day moving average price of $180.58 and a two-hundred day moving average price of $129.28.

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

Hedge funds have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $25,000. Raymond James Financial Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 138 shares during the period. Western Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at about $33,000. Finally, 1248 Management LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 200 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.