Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $20.38, but opened at $19.61. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.18, with a volume of 15,694,443 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 1.9 %

The firm has a 50 day moving average of $26.15 and a 200-day moving average of $29.86. The company has a market cap of $8.10 billion, a P/E ratio of 29.25 and a beta of 4.09.

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

Several institutional investors and hedge funds have recently modified their holdings of SOXL. Morse Asset Management Inc boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the fourth quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock valued at $844,000 after buying an additional 368 shares during the last quarter. PayPay Securities Corp raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the 4th quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after acquiring an additional 403 shares in the last quarter. Anchor Investment Management LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock valued at $40,000 after acquiring an additional 600 shares during the last quarter. Finally, Visionary Wealth Advisors grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.8% in the fourth quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock valued at $263,000 after purchasing an additional 613 shares in the last quarter.

About Direxion Daily Semiconductors Bull 3x Shares

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.