Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $29.82, but opened at $31.81. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $33.16, with a volume of 27,089,896 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $8.18 billion, a PE ratio of 37.08 and a beta of 5.47. The business has a fifty day moving average price of $29.71 and a two-hundred day moving average price of $36.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares in the last quarter. Covestor Ltd grew its stake in 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 valued at $65,000 after purchasing an additional 889 shares in the last quarter. Signaturefd LLC increased its position 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 worth $73,000 after purchasing an additional 300 shares during the last quarter. Bogart Wealth LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth about $106,000. Finally, Hollencrest Capital Management lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock valued at $109,000 after buying an additional 2,863 shares during the last quarter.

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.