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 before the market opened on Thursday . The stock had previously closed at $36.01, but opened at $39.97. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $39.1520, with a volume of 26,974,458 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s 50 day moving average price is $41.75 and its two-hundred day moving average price is $32.24. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westwood Wealth Management increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the 1st quarter. Westwood Wealth Management now owns 231,245 shares of the company’s stock valued at $3,688,000 after purchasing an additional 2,800 shares during the period. DRW Securities LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth about $570,000. Stuart Chaussee & Associates Inc. bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth about $750,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 1,626.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 34,538 shares of the company’s stock valued at $867,000 after acquiring an additional 32,538 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 194.9% during the 2nd quarter. Parallel Advisors LLC now owns 16,257 shares of the company’s stock valued at $408,000 after purchasing an additional 10,745 shares in 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.