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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $37.98, but opened at $34.97. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $34.32, with a volume of 15,828,294 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 11.8 %

The stock has a market capitalization of $8.13 billion, a P/E ratio of 37.08 and a beta of 5.47. The company has a fifty day simple moving average of $34.78 and a two-hundred day simple moving average of $42.66.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 17.6% in 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. Covestor Ltd raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 98.9% during the 1st quarter. Covestor Ltd now owns 1,760 shares of the company’s stock worth $82,000 after buying an additional 875 shares during the period. Strategic Blueprint LLC lifted its stake in 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 valued at $269,000 after buying an additional 1,050 shares in the last quarter. VitalStone Financial LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 437.1% in the first quarter. VitalStone Financial LLC now owns 2,186 shares of the company’s stock valued at $102,000 after buying an additional 1,779 shares during the period. Finally, Bogart Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at about $106,000.

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.