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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $27.06, but opened at $28.33. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $28.53, with a volume of 15,119,428 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market cap of $7.69 billion, a PE ratio of 37.08 and a beta of 5.47. The company’s 50-day simple moving average is $32.15 and its two-hundred day simple moving average is $40.36.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Anchor Investment Management LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after buying an additional 585 shares during the period. Covestor Ltd lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after buying an additional 889 shares during the period. Signaturefd LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after acquiring an additional 300 shares in the last quarter. Bogart Wealth LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth approximately $106,000. Finally, Hollencrest Capital Management raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after acquiring an additional 2,863 shares in 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.