Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Up – Here’s Why

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s share price gapped up before the market opened on Friday . The stock had previously closed at $115.76, but opened at $120.71. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $119.1860, with a volume of 19,284,604 shares.

Direxion Daily Semiconductors Bull 3X ETF Stock Up 5.1%

The business’s fifty day moving average price is $136.12 and its 200 day moving average price is $136.61. The firm has a market capitalization of $20.60 billion, a PE ratio of 35.63 and a beta of 5.73.

Institutional Trading of Direxion Daily Semiconductors Bull 3X ETF

Several hedge funds and other institutional investors have recently bought and sold shares of SOXL. Pin Oak Investment Advisors Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the 4th quarter worth $25,000. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the second quarter valued at $25,000. Halbert Hargrove Global Advisors LLC increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the last quarter. Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF in the first quarter valued at $33,000. Finally, 1248 Management LLC increased its stake in Direxion Daily Semiconductors Bull 3X ETF by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter.

Direxion Daily Semiconductors Bull 3X ETF 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.