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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Monday . The stock had previously closed at $28.06, but opened at $26.44. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $26.97, with a volume of 20,047,893 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The stock has a fifty day simple moving average of $29.58 and a two-hundred day simple moving average of $36.33.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors and hedge funds have recently bought and sold shares of SOXL. TB Alternative Assets Ltd. bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth $17,641,000. CloudAlpha Capital Management Limited Hong Kong grew its position in Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock valued at $14,049,000 after purchasing an additional 205,910 shares during the period. Virtu Financial LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $7,760,000. International Assets Investment Management LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth about $3,781,000. Finally, Taika Capital LP purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth about $3,765,000.

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.