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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $158.54, but opened at $147.10. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $157.85, with a volume of 14,628,073 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 2.2%

The stock has a 50 day simple moving average of $205.77 and a 200 day simple moving average of $121.25. The firm has a market capitalization of $21.48 billion, a PE ratio of 35.63 and a beta of 5.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jump Financial LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after buying an additional 775,222 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after buying an additional 603,324 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after acquiring an additional 516,575 shares during the last quarter. Simplex Trading LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 40.2% in the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after acquiring an additional 354,575 shares during the last quarter. Finally, IMC Chicago LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 550.1% in the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after acquiring an additional 324,775 shares during the last quarter.

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.