Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Thursday . The stock had previously closed at $18.79, but opened at $18.17. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $17.80, with a volume of 27,143,525 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market cap of $6.50 billion, a PE ratio of 29.25 and a beta of 4.09. The company has a 50-day simple moving average of $24.69 and a 200-day simple moving average of $29.32.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.0648 per share. The ex-dividend date is Tuesday, March 25th. This is an increase from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Copia Wealth Management purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth about $36,000. LM Advisors LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 667.3% in the 4th quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock valued at $2,054,000 after acquiring an additional 65,400 shares during the last quarter. Visionary Wealth Advisors lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.8% during the 4th quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after purchasing an additional 613 shares during the period. Morse Asset Management Inc boosted its holdings in shares of 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 worth $844,000 after purchasing an additional 368 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% in the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $8,193,000 after purchasing an additional 299,744 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.