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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $20.38, but opened at $19.61. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.18, with a volume of 15,694,443 shares.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 3.3 %

The stock’s fifty day moving average price is $25.77 and its two-hundred day moving average price is $29.66. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 29.25 and a beta of 4.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SOXL. Copia Wealth Management acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth about $36,000. LM Advisors LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 667.3% during the fourth quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock worth $2,054,000 after buying an additional 65,400 shares during the period. Visionary Wealth Advisors grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 6.8% during the fourth quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after buying an additional 613 shares during the period. Morse Asset Management Inc grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the fourth quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock worth $844,000 after buying an additional 368 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% during the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock worth $8,193,000 after buying an additional 299,744 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.