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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Wednesday . The stock had previously closed at $29.73, but opened at $31.54. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $30.93, with a volume of 29,204,277 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm’s fifty day simple moving average is $32.85 and its 200 day simple moving average is $41.07. The company has a market capitalization of $7.89 billion, a PE ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SOXL. TB Alternative Assets Ltd. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth about $17,641,000. IMC Chicago LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth $24,699,000. CloudAlpha Capital Management Limited Hong Kong raised its position in Direxion Daily Semiconductors Bull 3x Shares by 116.3% during the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock worth $14,049,000 after acquiring an additional 205,910 shares during the period. Westwood Wealth Management grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 4.0% in the second quarter. Westwood Wealth Management now owns 226,970 shares of the company’s stock valued at $12,565,000 after purchasing an additional 8,655 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $7,760,000.

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.