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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $32.51, but opened at $31.58. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $31.63, with a volume of 12,519,294 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market capitalization of $8.50 billion, a PE ratio of 37.08 and a beta of 5.47. The firm’s 50-day moving average is $31.96 and its 200 day moving average is $39.92.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently bought and sold shares of the stock. Anchor Investment Management LLC boosted its stake 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 last quarter. Covestor Ltd lifted its position 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 worth $65,000 after acquiring an additional 889 shares in the last quarter. Signaturefd LLC lifted its position 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 in the last quarter. Bogart Wealth LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at approximately $106,000. Finally, Hollencrest Capital Management boosted its stake in 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 acquiring 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.