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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Tuesday . The stock had previously closed at $194.65, but opened at $165.40. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $160.74, with a volume of 17,224,401 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business’s fifty day moving average is $204.63 and its 200-day moving average is $112.06. The firm has a market cap of $20.72 billion, a PE ratio of 35.63 and a beta of 5.66.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avestar Capital LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth about $2,514,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after buying an additional 516,575 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 152.8% during the 4th quarter. SteelPeak Wealth LLC now owns 22,491 shares of the company’s stock valued at $945,000 after buying an additional 13,593 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 8.4% in the 4th quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock worth $1,761,000 after buying an additional 3,233 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 91.1% in the 4th quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock worth $297,000 after buying an additional 3,366 shares during the period.

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.