Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Here’s Why

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Monday . The stock had previously closed at $279.29, but opened at $299.26. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $295.67, with a volume of 11,642,929 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 5.4%

The company has a market cap of $39.90 billion, a price-to-earnings ratio of 35.63 and a beta of 5.70. The company has a fifty day simple moving average of $172.61 and a two-hundred day simple moving average of $96.05.

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

Several hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 831.0% during the 1st quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock worth $13,525,000 after purchasing an additional 251,587 shares in the last quarter. Serenity Investment Advisors acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at $116,000. Vestor Capital LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 70.0% during the 1st quarter. Vestor Capital LLC now owns 4,326 shares of the company’s stock valued at $207,000 after buying an additional 1,782 shares during the last quarter. Western Wealth Management LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $33,000. Finally, Lido Advisors LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 120.6% during the first quarter. Lido Advisors LLC now owns 13,079 shares of the company’s stock worth $627,000 after buying an additional 7,150 shares in the last quarter.

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.