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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Thursday . The stock had previously closed at $35.15, but opened at $33.44. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $33.67, with a volume of 12,271,691 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $9.23 billion, a PE ratio of 37.08 and a beta of 5.47. The firm’s 50 day simple moving average is $29.35 and its 200 day simple moving average is $34.99.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Anchor Investment Management LLC boosted 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 valued at $47,000 after acquiring an additional 585 shares in the last quarter. Covestor Ltd boosted 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 valued at $65,000 after acquiring an additional 889 shares in the last quarter. Signaturefd LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third 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 bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at $106,000. Finally, Hollencrest Capital Management boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock valued at $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.