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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Wednesday . The stock had previously closed at $56.55, but opened at $66.33. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $66.38, with a volume of 43,635,790 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 16.6%

The company has a market cap of $17.19 billion, a price-to-earnings ratio of 35.63 and a beta of 4.54. The firm has a 50 day moving average price of $58.19 and a two-hundred day moving average price of $49.09.

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

Several institutional investors and hedge funds have recently made changes to their positions in SOXL. APEIRON CAPITAL Ltd bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at about $4,181,000. Dakota Community Bank & Trust NA acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth approximately $791,000. SteelPeak Wealth LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 152.8% during the fourth quarter. SteelPeak Wealth LLC now owns 22,491 shares of the company’s stock worth $945,000 after purchasing an additional 13,593 shares during the period. Orion Porfolio Solutions LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth approximately $1,657,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth approximately $279,000.

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.