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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $21.95, but opened at $19.71. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.53, with a volume of 27,260,489 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a fifty day moving average price of $28.18 and a 200 day moving average price of $31.24. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 29.74 and a beta of 3.96.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. LM Advisors LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 667.3% during the fourth quarter. LM Advisors LLC now owns 75,200 shares of the company’s stock worth $2,054,000 after purchasing an additional 65,400 shares during the period. Visionary Wealth Advisors increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 6.8% during the 4th quarter. Visionary Wealth Advisors now owns 9,633 shares of the company’s stock worth $263,000 after acquiring an additional 613 shares during the last quarter. Morse Asset Management Inc raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% in the 4th quarter. Morse Asset Management Inc now owns 30,910 shares of the company’s stock valued at $844,000 after acquiring an additional 368 shares during the period. BNP Paribas Financial Markets lifted its holdings in Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% during the 4th quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $8,193,000 after purchasing an additional 299,744 shares during the last quarter. Finally, Seaview Investment Managers LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 72.4% during the fourth quarter. Seaview Investment Managers LLC now owns 13,029 shares of the company’s stock worth $356,000 after purchasing an additional 5,472 shares during the period.

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.