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 $280.54, but opened at $242.04. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $238.53, with a volume of 15,302,170 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business’s 50-day moving average price is $129.48 and its 200 day moving average price is $79.52. The firm has a market capitalization of $34.92 billion, a price-to-earnings ratio of 35.63 and a beta of 5.55.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in SOXL. Flow Traders U.S. LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $258,000. NewEdge Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $270,000. HUB Investment Partners LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $326,000. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth $25,000. Finally, Bank of America Corp DE increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 75.2% in the second quarter. Bank of America Corp DE now owns 174,241 shares of the company’s stock worth $4,375,000 after buying an additional 74,815 shares during the last quarter.

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.