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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Tuesday . The stock had previously closed at $111.16, but opened at $117.37. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $118.54, with a volume of 14,351,857 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company’s fifty day moving average price is $169.18 and its 200 day moving average price is $131.82. The company has a market cap of $19.64 billion, a PE ratio of 35.63 and a beta of 5.73.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOXL. Clay Northam Wealth Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth approximately $1,178,000. AlphaGrep UK Ltd purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $517,000. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at approximately $474,000. Client First Investment Management LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $4,007,000. Finally, Vigilare Wealth Management bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $498,000.

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.