Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $38.61, but opened at $37.10. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $37.34, with a volume of 23,341,000 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 2.2 %

The firm has a 50-day moving average of $34.53 and a 200 day moving average of $43.68. The company has a market cap of $10.48 billion, a P/E ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $2,459,000. Westend Capital Management LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at approximately $68,000. Global Assets Advisory LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter valued at approximately $13,683,000. Commonwealth Equity Services LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 60.7% during the first quarter. Commonwealth Equity Services LLC now owns 47,030 shares of the company’s stock worth $2,188,000 after purchasing an additional 17,757 shares during the period. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth $42,000.

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.