Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down prior to trading on Monday . The stock had previously closed at $62.77, but opened at $58.11. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $60.4190, with a volume of 24,809,214 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock’s 50 day simple moving average is $58.54 and its two-hundred day simple moving average is $44.76. The stock has a market cap of $10.28 billion, a P/E ratio of 35.63 and a beta of 4.52.

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

Several large investors have recently modified their holdings of SOXL. Kovitz Investment Group Partners LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 171.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 15,993 shares of the company’s stock worth $672,000 after buying an additional 10,100 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth about $548,000. Mercer Global Advisors Inc. ADV acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth about $1,293,000. EP Wealth Advisors LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth about $275,000. Finally, NewEdge Advisors LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $299,000.

About Direxion Daily Semiconductors Bull 3x Shares

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.