Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Down – Time to Sell?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) gapped down prior to trading on Thursday. The stock had previously closed at $66.68, but opened at $56.95. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $51.2840, with a volume of 90,830,982 shares trading hands.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The firm has a market capitalization of $10.58 billion, a PE ratio of 35.63 and a beta of 5.93. The business’s 50-day moving average price is $118.28 and its 200-day moving average price is $123.71.

Institutional Trading of Direxion Daily Semiconductors Bull 3X ETF

A number of large investors have recently bought and sold shares of the business. Serenity Investment Advisors grew its position in Direxion Daily Semiconductors Bull 3X ETF by 8.3% during the 3rd quarter. Serenity Investment Advisors now owns 2,627 shares of the company’s stock worth $388,000 after purchasing an additional 201 shares during the last quarter. Covestor Ltd raised its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 10.8% in the third quarter. Covestor Ltd now owns 2,696 shares of the company’s stock valued at $399,000 after buying an additional 263 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 1.2% in the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after buying an additional 266 shares during the last quarter. Clay Northam Wealth Management LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 6.8% during the third quarter. Clay Northam Wealth Management LLC now owns 4,715 shares of the company’s stock worth $697,000 after buying an additional 300 shares during the period. Finally, Kaizen Financial Strategies boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 4.6% during the first quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock worth $381,000 after buying an additional 350 shares during the period.

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.