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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $31.67, but opened at $30.83. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $30.74, with a volume of 14,327,547 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 0.3 %

The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The stock has a 50-day moving average of $34.09 and a 200-day moving average of $42.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% during the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after acquiring an additional 889 shares in the last quarter. Signaturefd LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after acquiring an additional 300 shares in the last quarter. Bogart Wealth LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at $106,000. Hollencrest Capital Management raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% in the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after buying an additional 2,863 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth $208,000.

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.