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

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) gapped up before the market opened on Wednesday. The stock had previously closed at $56.06, but opened at $64.20. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $64.2240, with a volume of 77,464,253 shares traded.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The business has a 50-day simple moving average of $112.98 and a two-hundred day simple moving average of $123.47. The stock has a market cap of $18.68 billion, a price-to-earnings ratio of 35.63 and a beta of 5.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SOXL. Alteri Wealth LLC bought a new position in Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth $209,000. OneAscent Financial Services LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the third quarter valued at about $218,000. Bogart Wealth LLC raised its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 140,000.0% in the third quarter. Bogart Wealth LLC now owns 1,401 shares of the company’s stock valued at $207,000 after purchasing an additional 1,400 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the 3rd quarter worth about $2,493,000. Finally, Morse Asset Management Inc lifted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 82.7% during the 3rd quarter. Morse Asset Management Inc now owns 1,602 shares of the company’s stock worth $237,000 after buying an additional 725 shares during the last quarter.

About Direxion Daily Semiconductors Bull 3X ETF

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.