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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $10.60, but opened at $9.13. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $9.67, with a volume of 98,866,623 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a 50 day simple moving average of $19.77 and a 200-day simple moving average of $27.15. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11.

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

A number of institutional investors have recently made changes to their positions in the stock. Morse Asset Management Inc raised its position in Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the fourth quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock valued at $844,000 after purchasing an additional 368 shares during the period. PayPay Securities Corp boosted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the 4th quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock valued at $62,000 after acquiring an additional 403 shares during the period. Anchor Investment Management LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 585 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock valued at $40,000 after purchasing an additional 600 shares during the period. Finally, Visionary Wealth Advisors increased its stake in 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 buying an additional 613 shares during the period.

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.