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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Wednesday . The stock had previously closed at $63.34, but opened at $67.21. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $63.9160, with a volume of 26,498,726 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a 50-day simple moving average of $52.24 and a two-hundred day simple moving average of $40.68. The firm has a market capitalization of $12.91 billion, a P/E ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Avestar Capital LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 232.9% during the 2nd quarter. Avestar Capital LLC now owns 264,996 shares of the company’s stock valued at $6,654,000 after purchasing an additional 185,383 shares in the last quarter. APEIRON CAPITAL Ltd purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at approximately $4,181,000. Dakota Community Bank & Trust NA bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $791,000. Stratos Wealth Advisors LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 38.6% in the 2nd quarter. Stratos Wealth Advisors LLC now owns 30,793 shares of the company’s stock worth $773,000 after acquiring an additional 8,579 shares during the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth approximately $1,657,000.

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.