Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Up – What’s Next?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $68.17, but opened at $73.75. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $74.3240, with a volume of 42,614,174 shares changing hands.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The company has a market capitalization of $18.50 billion, a P/E ratio of 35.63 and a beta of 5.75. The firm’s fifty day moving average is $120.02 and its 200 day moving average is $123.58.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Hedge funds have recently added to or reduced their stakes in the business. IMC Chicago LLC grew its holdings in Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after purchasing an additional 324,775 shares during the period. Optiver Holding B.V. raised its holdings in Direxion Daily Semiconductors Bull 3X ETF by 831.0% in the 1st quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after acquiring an additional 251,587 shares during the last quarter. Client First Investment Management LLC lifted its position in Direxion Daily Semiconductors Bull 3X ETF by 117.3% during the third quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock worth $4,827,000 after buying an additional 17,621 shares in the last quarter. Variant Private Wealth LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3X ETF during the 3rd quarter valued at about $2,705,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF in the 3rd quarter valued at approximately $2,663,000.

About Direxion Daily Semiconductors Bull 3X ETF

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.