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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up prior to trading on Thursday . The stock had previously closed at $29.94, but opened at $31.46. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $30.57, with a volume of 16,048,875 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 8.3 %

The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The business’s 50-day simple moving average is $29.20 and its two-hundred day simple moving average is $35.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SOXL. TB Alternative Assets Ltd. raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 29.5% during the fourth quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock valued at $17,011,000 after acquiring an additional 141,941 shares during the last quarter. Anchor Investment Management LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares in the last quarter. Morse Asset Management Inc raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 88.2% in the 3rd quarter. Morse Asset Management Inc now owns 30,542 shares of the company’s stock valued at $1,120,000 after acquiring an additional 14,317 shares during the last quarter. Barclays PLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 57.2% in the 3rd quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after purchasing an additional 8,890 shares in the last quarter. Finally, Taika Capital LP acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth approximately $3,765,000.

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.