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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $111.16, but opened at $117.37. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $118.54, with a volume of 14,351,857 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 4.3%

The firm’s 50-day simple moving average is $169.18 and its 200 day simple moving average is $131.82. The firm has a market cap of $19.64 billion, a P/E ratio of 35.63 and a beta of 5.73.

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

Several institutional investors have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 138 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth about $25,000. Western Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth approximately $33,000. St. Johns Investment Management Company LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth $38,000. Finally, 1248 Management LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 33.3% during 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 in 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.