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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up before the market opened on Tuesday . The stock had previously closed at $190.56, but opened at $211.38. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $218.18, with a volume of 13,087,074 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market capitalization of $29.97 billion, a P/E ratio of 35.63 and a beta of 5.55. The stock’s 50 day moving average is $103.60 and its two-hundred day moving average is $69.90.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Institutional investors and hedge funds have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth approximately $25,000. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after buying an additional 138 shares during the last quarter. Addison Advisors LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth approximately $33,000. Finally, Western Wealth Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth approximately $33,000.

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.