Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Thursday . The stock had previously closed at $55.38, but opened at $60.96. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $60.68, with a volume of 27,030,125 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The business has a fifty day moving average of $43.51 and a 200 day moving average of $35.86.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $25,000. Optimum Investment Advisors lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 550.0% in the second quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock valued at $33,000 after buying an additional 1,100 shares during the last quarter. Addison Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $33,000. ORG Wealth Partners LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at about $36,000. Finally, Quent Capital LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at about $71,000.

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.