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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $19.28, but opened at $20.48. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.88, with a volume of 20,231,608 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock’s 50-day moving average price is $25.77 and its 200-day moving average price is $29.65. The company has a market cap of $8.64 billion, a P/E ratio of 29.25 and a beta of 4.09.

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

Several institutional investors and hedge funds have recently bought and sold shares of SOXL. Larson Financial Group LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 12,476.9% during the third quarter. Larson Financial Group LLC now owns 8,175 shares of the company’s stock worth $300,000 after purchasing an additional 8,110 shares during the period. Flow Traders U.S. LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the third quarter. Flow Traders U.S. LLC now owns 106,628 shares of the company’s stock worth $3,911,000 after purchasing an additional 25,079 shares during the period. HighTower Advisors LLC lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 55.7% during the third quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock worth $335,000 after purchasing an additional 3,263 shares during the period. Morse Asset Management Inc lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 88.2% during the third quarter. Morse Asset Management Inc now owns 30,541 shares of the company’s stock worth $1,120,000 after purchasing an additional 14,316 shares during the period. Finally, Taika Capital LP bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $3,765,000.

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.