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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up prior to trading on Friday . The stock had previously closed at $112.77, but opened at $125.21. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $122.14, with a volume of 27,938,586 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market capitalization of $18.39 billion, a P/E ratio of 35.63 and a beta of 4.55. The firm’s fifty day simple moving average is $65.62 and its 200 day simple moving average is $54.04.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 138 shares during the period. Discipline Wealth Solutions LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at about $509,000. SG Americas Securities LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth about $328,000. SHP Wealth Management acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth about $57,000. Finally, Kovitz Investment Group Partners LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 171.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 15,993 shares of the company’s stock worth $672,000 after acquiring an additional 10,100 shares in 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.