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 before the market opened on Wednesday . The stock had previously closed at $144.16, but opened at $157.84. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $158.30, with a volume of 22,510,396 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 14.8%

The stock’s 50-day moving average price is $71.51 and its 200 day moving average price is $57.14. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 35.63 and a beta of 5.55.

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

Hedge funds have recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 138 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at about $25,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at about $38,000. 1248 Management LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at about $36,000.

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.