Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Should You Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $10.23, but opened at $11.15. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $10.73, with a volume of 123,277,151 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 7.4 %

The firm’s 50-day moving average is $20.46 and its 200-day moving average is $27.46. The company has a market cap of $4.86 billion, a PE ratio of 22.62 and a beta of 4.11.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were given a $0.0648 dividend. This is a boost from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date was Tuesday, March 25th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $32,000. Copia Wealth Management bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $36,000. Lindbrook Capital LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after buying an additional 600 shares during the last quarter. Finally, Anchor Investment Management LLC grew its position in Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after buying an additional 585 shares during the period.

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.