Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Tuesday . The stock had previously closed at $112.79, but opened at $106.36. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $103.8180, with a volume of 17,235,071 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 0.4%

The stock has a fifty day moving average price of $149.41 and a 200-day moving average price of $134.39. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jump Financial LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after purchasing an additional 775,222 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after purchasing an additional 603,324 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after buying an additional 516,575 shares in the last quarter. Simplex Trading LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after buying an additional 354,575 shares during the last quarter. Finally, IMC Chicago LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.1% during the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after buying an additional 324,775 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.