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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Monday . The stock had previously closed at $29.69, but opened at $28.24. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $27.54, with a volume of 19,194,706 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock’s 50-day moving average price is $30.28 and its 200-day moving average price is $38.00. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after buying an additional 300 shares in the last quarter. Anchor Investment Management LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares during the last quarter. Covestor Ltd grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after acquiring an additional 889 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 14.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock valued at $302,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Strategic Blueprint LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 16.7% during the third quarter. Strategic Blueprint LLC now owns 7,329 shares of the company’s stock worth $269,000 after acquiring an additional 1,050 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.