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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Monday . The stock had previously closed at $27.02, but opened at $24.80. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $25.24, with a volume of 25,107,440 shares.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 3.8 %

The stock’s 50 day moving average price is $29.39 and its 200 day moving average price is $33.09. The firm has a market cap of $7.05 billion, a PE ratio of 37.08 and a beta of 5.47.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third 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. PayPay Securities Corp lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after purchasing an additional 403 shares during the last quarter. Covestor Ltd boosted its holdings 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 worth $65,000 after purchasing an additional 889 shares during the period. Signaturefd LLC increased its stake in 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 valued at $73,000 after purchasing an additional 300 shares during the last quarter. Finally, Bogart Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth $106,000.

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.