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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $279.29, but opened at $299.26. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $295.67, with a volume of 11,642,929 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 5.4%

The stock has a market cap of $39.90 billion, a price-to-earnings ratio of 35.63 and a beta of 5.70. The firm’s 50 day moving average is $172.61 and its two-hundred day moving average is $96.05.

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

A number of institutional investors have recently modified their holdings of the company. Pin Oak Investment Advisors Inc. purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $33,000. Finally, 1248 Management LLC grew its position in shares of 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 valued at $34,000 after purchasing an additional 200 shares during the period.

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.