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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $52.26, but opened at $46.06. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $46.98, with a volume of 25,015,291 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $10.15 billion, a PE ratio of 35.63 and a beta of 4.52. The business has a 50 day simple moving average of $58.47 and a two-hundred day simple moving average of $48.52.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SOXL. Pin Oak Investment Advisors Inc. bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at about $25,000. Raymond James Financial Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $25,000. Addison Advisors LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth about $33,000. 1248 Management LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth approximately $36,000.

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.