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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $29.94, but opened at $31.46. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $30.57, with a volume of 16,048,875 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The firm has a fifty day simple moving average of $29.38 and a two-hundred day simple moving average of $35.91.

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

A number of large investors have recently made changes to their positions in SOXL. Anchor Investment Management LLC increased its holdings in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after buying an additional 585 shares during the period. Covestor Ltd increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after acquiring an additional 889 shares during the period. Signaturefd LLC raised its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after purchasing an additional 300 shares during the last quarter. Bogart Wealth LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at $106,000. Finally, Hollencrest Capital Management grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after acquiring an additional 2,863 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.