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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $21.69, but opened at $20.32. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.24, with a volume of 44,692,052 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $13.45 billion, a P/E ratio of 35.63 and a beta of 4.28. The business’s 50-day moving average is $14.83 and its two-hundred day moving average is $21.85.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 14.8% in the first quarter. SBI Securities Co. Ltd. now owns 1,142,842 shares of the company’s stock valued at $18,228,000 after acquiring an additional 147,588 shares during the last quarter. Simplex Trading LLC lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the fourth quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock valued at $27,319,000 after acquiring an additional 235,607 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% in the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $8,193,000 after acquiring an additional 299,744 shares during the last quarter. Westwood Wealth Management lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the first quarter. Westwood Wealth Management now owns 231,245 shares of the company’s stock valued at $3,688,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 14,970.5% in the first quarter. Spire Wealth Management now owns 197,122 shares of the company’s stock valued at $3,144,000 after acquiring an additional 195,814 shares during the last quarter.

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.