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 prior to trading on Monday . The stock had previously closed at $114.72, but opened at $106.15. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $102.13, with a volume of 23,578,955 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm’s 50 day moving average price is $196.29 and its 200-day moving average price is $124.96. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds have recently bought and sold shares of the stock. Key Client Fiduciary Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth about $474,000. Client First Investment Management LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at about $4,007,000. Vigilare Wealth Management bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth approximately $498,000. Optiver Holding B.V. grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 831.0% during the 1st quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock worth $13,525,000 after purchasing an additional 251,587 shares in the last quarter. Finally, Serenity Investment Advisors bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at approximately $116,000.

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.