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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $12.77, but opened at $10.92. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $10.16, with a volume of 151,394,777 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11. The company has a 50 day moving average price of $20.46 and a 200 day moving average price of $27.54.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.0648 per share. The ex-dividend date was Tuesday, March 25th. This is a boost from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Morse Asset Management Inc boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the fourth quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock valued at $844,000 after purchasing an additional 368 shares during the period. PayPay Securities Corp lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the 4th quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after buying an additional 403 shares in the last quarter. Anchor Investment Management LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after buying an additional 585 shares during the period. Lindbrook Capital LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after acquiring an additional 600 shares in the last quarter. Finally, Visionary Wealth Advisors increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.8% during the fourth quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after acquiring an additional 613 shares during the period.

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.