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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $20.38, but opened at $19.61. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.18, with a volume of 15,694,443 shares.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 1.9 %

The stock has a market capitalization of $8.10 billion, a PE ratio of 29.25 and a beta of 4.09. The firm’s 50-day moving average price is $26.15 and its 200-day moving average price is $29.86.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $27,180,000. BNP Paribas Financial Markets raised its holdings 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 worth $8,193,000 after buying an additional 299,744 shares during the period. Simplex Trading LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the 4th quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after acquiring an additional 235,607 shares during the last quarter. TB Alternative Assets Ltd. lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 29.5% during the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after acquiring an additional 141,941 shares during the last quarter. Finally, Taika Capital LP purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at $3,765,000.

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.