Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Up – Still a Buy?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $103.97, but opened at $113.33. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $113.9090, with a volume of 18,824,577 shares trading hands.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73. The firm has a 50 day simple moving average of $130.38 and a 200-day simple moving average of $137.72.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

A number of hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Direxion Daily Semiconductors Bull 3X ETF 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 buying an additional 516,575 shares in the last quarter. Simplex Trading LLC boosted its position in Direxion Daily Semiconductors Bull 3X ETF 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 buying an additional 354,575 shares during the last quarter. IMC Chicago LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after buying an additional 324,775 shares during the period. Optiver Holding B.V. increased its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% in the 1st quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after buying an additional 251,587 shares during the period. Finally, Avestar Capital LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the fourth quarter worth $2,514,000.

About Direxion Daily Semiconductors Bull 3X ETF

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.