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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $63.34, but opened at $67.21. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $63.9160, with a volume of 26,498,726 shares.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 2.4%

The firm has a market capitalization of $12.43 billion, a P/E ratio of 35.63 and a beta of 4.52. The stock has a 50-day simple moving average of $53.39 and a two-hundred day simple moving average of $41.29.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently added to or reduced their stakes in SOXL. Pin Oak Investment Advisors Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $25,000. Raymond James Financial Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $25,000. Optimum Investment Advisors boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.0% during the second quarter. Optimum Investment Advisors now owns 1,300 shares of the company’s stock valued at $33,000 after purchasing an additional 1,100 shares in the last quarter. Addison Advisors LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the third quarter valued at approximately $33,000. Finally, 1248 Management LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after buying an additional 200 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.