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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $36.01, but opened at $39.97. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $39.1520, with a volume of 26,974,458 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a 50 day moving average of $41.75 and a 200 day moving average of $32.24. The stock has a market capitalization of $11.66 billion, a P/E ratio of 35.63 and a beta of 4.52.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Large investors have recently modified their holdings of the company. CloudAlpha Capital Management Limited Hong Kong bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $22,677,000. Jump Financial LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 185.6% in the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after buying an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 105.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after acquiring an additional 603,324 shares during the period. SBI Securities Co. Ltd. raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock valued at $41,915,000 after acquiring an additional 526,417 shares in the last quarter. Finally, Elevatus Welath Management acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $9,517,000.

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.