Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.15, but opened at $10.41. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $10.59, with a volume of 93,402,503 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a 50 day simple moving average of $21.10 and a 200-day simple moving average of $27.90. The stock has a market cap of $4.26 billion, a P/E ratio of 22.62 and a beta of 4.11.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a dividend of $0.0648 per share. This is a boost from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at about $29,000. Anchor Investment Management LLC boosted its holdings in 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 period. Copia Wealth Management bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth approximately $36,000. Lindbrook Capital LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after purchasing an additional 600 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth approximately $32,000.

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.