Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Up – Still a Buy?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) shares gapped up before the market opened on Friday . The stock had previously closed at $115.76, but opened at $120.71. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $119.1860, with a volume of 19,284,604 shares.

Direxion Daily Semiconductors Bull 3X ETF Stock Up 5.1%

The company has a market capitalization of $20.60 billion, a PE ratio of 35.63 and a beta of 5.73. The stock’s fifty day simple moving average is $136.12 and its 200-day simple moving average is $136.61.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Several hedge funds and other institutional investors have recently bought and sold shares of SOXL. Jump Financial LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 185.6% in the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after acquiring an additional 775,222 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after acquiring an additional 603,324 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock valued at $21,734,000 after acquiring an additional 516,575 shares during the last quarter. Simplex Trading LLC increased its position in Direxion Daily Semiconductors Bull 3X ETF by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after purchasing an additional 354,575 shares in the last quarter. Finally, IMC Chicago LLC increased its position in Direxion Daily Semiconductors Bull 3X ETF by 550.1% during the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after purchasing an additional 324,775 shares in the last quarter.

Direxion Daily Semiconductors Bull 3X ETF 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.