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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Friday . The stock had previously closed at $12.10, but opened at $12.89. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $13.19, with a volume of 70,721,853 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 9.8 %

The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 15.60 and a beta of 4.11. The stock has a fifty day moving average price of $15.25 and a two-hundred day moving average price of $24.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% during the third quarter. Barclays PLC now owns 24,421 shares of the company’s stock worth $896,000 after buying an additional 8,890 shares in the last quarter. Anchor Investment Management LLC grew its stake 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 worth $47,000 after acquiring an additional 585 shares during the period. TB Alternative Assets Ltd. grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the 4th quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock worth $17,011,000 after acquiring an additional 141,941 shares during the period. KG&L Capital Management LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 209.3% during the 4th quarter. KG&L Capital Management LLC now owns 19,423 shares of the company’s stock worth $530,000 after purchasing an additional 13,143 shares during the period. Finally, Avestar Capital LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth $1,178,000.

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.