Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Should You Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down prior to trading on Tuesday . The stock had previously closed at $300.77, but opened at $236.00. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $246.26, with a volume of 19,742,144 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market cap of $31.11 billion, a price-to-earnings ratio of 35.63 and a beta of 5.70. The company’s 50 day simple moving average is $183.26 and its 200 day simple moving average is $100.46.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC lifted its position in 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 worth $27,000 after purchasing an additional 138 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at $25,000. Western Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at $33,000. St. Johns Investment Management Company LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth $38,000. Finally, 1248 Management LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after buying an additional 200 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.