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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $190.56, but opened at $211.38. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $218.18, with a volume of 13,087,074 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market cap of $29.97 billion, a P/E ratio of 35.63 and a beta of 5.55. The company’s 50 day simple moving average is $103.60 and its 200 day simple moving average is $69.90.

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

Large investors have recently bought and sold shares of the company. SteelPeak Wealth LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 152.8% in the fourth quarter. SteelPeak Wealth LLC now owns 22,491 shares of the company’s stock valued at $945,000 after purchasing an additional 13,593 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after purchasing an additional 516,575 shares in the last quarter. Larson Financial Group LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 91.1% in the fourth quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock valued at $297,000 after purchasing an additional 3,366 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $279,000. Finally, IMC Chicago LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $2,482,000.

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.