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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $42.03, but opened at $45.13. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $47.5020, with a volume of 18,989,294 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Up 12.4%

The company has a market cap of $13.84 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52. The firm’s fifty day simple moving average is $42.54 and its 200 day simple moving average is $34.18.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Institutional investors have recently bought and sold shares of the business. Cantor Fitzgerald L. P. increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 19.0% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 15,601 shares of the company’s stock valued at $544,000 after acquiring an additional 2,489 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $1,490,000. Scientech Research LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $446,000. Qube Research & Technologies Ltd purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at approximately $2,618,000. Finally, Larson Financial Group LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 1,426.9% in the third quarter. Larson Financial Group LLC now owns 3,695 shares of the company’s stock valued at $129,000 after purchasing an additional 3,453 shares during the last quarter.

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.