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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Tuesday . The stock had previously closed at $29.33, but opened at $30.04. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $29.33, with a volume of 12,371,184 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 4.1 %

The company’s fifty day moving average is $33.61 and its two-hundred day moving average is $41.70. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

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

Several hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 585 shares during the period. Morse Asset Management Inc increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 88.2% during the third quarter. Morse Asset Management Inc now owns 30,542 shares of the company’s stock worth $1,120,000 after acquiring an additional 14,317 shares in the last quarter. Barclays PLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% during the third quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after acquiring an additional 8,890 shares in the last quarter. Taika Capital LP bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at $3,765,000. Finally, HighTower Advisors LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 55.7% in the third quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock valued at $335,000 after purchasing an additional 3,263 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.