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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Friday . The stock had previously closed at $35.21, but opened at $37.31. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $36.26, with a volume of 26,274,338 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 4.2 %

The firm has a 50 day moving average price of $34.70 and a 200-day moving average price of $43.89. The firm has a market cap of $9.94 billion, a PE ratio of 37.08 and a beta of 5.47.

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

Several institutional investors have recently modified their holdings of the company. IMC Chicago LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $24,699,000. Global Assets Advisory LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at $13,683,000. Westwood Wealth Management boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 4.0% during the 2nd quarter. Westwood Wealth Management now owns 226,970 shares of the company’s stock worth $12,565,000 after purchasing an additional 8,655 shares during the period. Virtu Financial LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $7,760,000. Finally, Commonwealth Equity Services LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 60.7% in the first quarter. Commonwealth Equity Services LLC now owns 47,030 shares of the company’s stock valued at $2,188,000 after purchasing an additional 17,757 shares during the period.

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.