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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $27.06, but opened at $28.33. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $28.53, with a volume of 15,119,428 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 6.1 %

The company’s 50-day simple moving average is $32.41 and its 200-day simple moving average is $40.52. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

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

A number of institutional investors and hedge funds have recently modified their holdings of SOXL. Signaturefd LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after acquiring an additional 300 shares during the period. Anchor Investment Management LLC raised its stake 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 purchasing an additional 585 shares during the period. Covestor Ltd lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after purchasing an additional 889 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 14.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock valued at $302,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Strategic Blueprint LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 16.7% in the third quarter. Strategic Blueprint LLC now owns 7,329 shares of the company’s stock worth $269,000 after buying an additional 1,050 shares during the period.

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.