Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Up – What’s Next?

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $56.06, but opened at $64.20. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $64.2240, with a volume of 77,464,253 shares.

Direxion Daily Semiconductors Bull 3X ETF Trading Up 20.1%

The company has a market cap of $18.68 billion, a P/E ratio of 35.63 and a beta of 5.93. The business has a 50 day moving average price of $112.98 and a 200-day moving average price of $123.47.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC acquired a new stake in Direxion Daily Semiconductors Bull 3X ETF in the third quarter valued at $29,328,000. IMC Chicago LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% during the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after purchasing an additional 324,775 shares during the last quarter. Optiver Holding B.V. increased its stake in shares of Direxion Daily Semiconductors Bull 3X ETF 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 during the last quarter. M Holdings Securities Inc. raised its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 4.5% in the 3rd quarter. M Holdings Securities Inc. now owns 47,601 shares of the company’s stock valued at $7,038,000 after purchasing an additional 2,048 shares during the period. Finally, Client First Investment Management LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3X ETF by 117.3% in the 3rd quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock valued at $4,827,000 after purchasing an additional 17,621 shares during the period.

About Direxion Daily Semiconductors Bull 3X ETF

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.