Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $27.40, but opened at $26.18. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $26.95, with a volume of 20,456,206 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 3.4 %

The company’s 50 day simple moving average is $29.10 and its 200-day simple moving average is $32.08. The firm has a market cap of $7.71 billion, a P/E ratio of 37.08 and a beta of 5.47.

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

A number of large investors have recently added to or reduced their stakes in SOXL. Seaview Investment Managers LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 72.4% during the 4th quarter. Seaview Investment Managers LLC now owns 13,029 shares of the company’s stock valued at $356,000 after buying an additional 5,472 shares during the period. XTX Topco Ltd purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at $603,000. CIBC Private Wealth Group LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 11.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 48,111 shares of the company’s stock valued at $1,452,000 after acquiring an additional 5,000 shares during the last quarter. X Square Capital LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 44.4% in the fourth quarter. X Square Capital LLC now owns 27,330 shares of the company’s stock valued at $746,000 after acquiring an additional 8,404 shares during the period. Finally, LM Advisors LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 667.3% in the fourth quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock worth $2,054,000 after purchasing an additional 65,400 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

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.