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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Wednesday . The stock had previously closed at $31.67, but opened at $30.83. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $30.74, with a volume of 14,327,547 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 5.3 %

The firm’s fifty day moving average price is $34.07 and its two-hundred day moving average price is $42.62. The stock has a market capitalization of $8.13 billion, a PE ratio of 37.08 and a beta of 5.47.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at approximately $216,000. Campbell Capital Management Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth $1,064,000. Signaturefd LLC grew its stake in Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after acquiring an additional 300 shares during the last quarter. SG Americas Securities LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 56.4% during the 2nd quarter. SG Americas Securities LLC now owns 39,276 shares of the company’s stock valued at $2,174,000 after acquiring an additional 14,170 shares in the last quarter. Finally, TB Alternative Assets Ltd. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at about $17,641,000.

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.