Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $52.26, but opened at $46.06. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $46.98, with a volume of 25,015,291 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 0.3%

The business’s 50 day moving average price is $58.87 and its 200-day moving average price is $48.33. The company has a market cap of $10.03 billion, a PE ratio of 35.63 and a beta of 4.52.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOXL. Jump Financial LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after buying an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after acquiring an additional 603,324 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after acquiring an additional 516,575 shares in the last quarter. Elevatus Welath Management purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $9,517,000. Finally, Simplex Trading LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after acquiring an additional 354,575 shares during the last quarter.

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.