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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down prior to trading on Monday . The stock had previously closed at $120.60, but opened at $115.07. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $106.03, with a volume of 18,811,964 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 11.1%

The firm has a 50 day moving average price of $172.41 and a two-hundred day moving average price of $131.47. The company has a market capitalization of $18.16 billion, a price-to-earnings ratio of 35.63 and a beta of 5.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the 1st 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. Verus Capital Partners LLC lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 1.7% in the fourth quarter. Verus Capital Partners LLC now owns 11,774 shares of the company’s stock worth $495,000 after acquiring an additional 200 shares during the last quarter. 1248 Management LLC boosted its stake in 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 acquiring an additional 200 shares during the period. SteelPeak Wealth LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock valued at $1,090,000 after acquiring an additional 266 shares during the period. Finally, Kaizen Financial Strategies grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 4.6% during the first quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock valued at $381,000 after purchasing an additional 350 shares during 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.