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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.40, but opened at $26.18. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $26.95, with a volume of 20,456,206 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The firm has a market cap of $7.35 billion, a P/E ratio of 37.08 and a beta of 5.47. The company’s 50-day moving average is $29.16 and its two-hundred day moving average is $32.12.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth $29,000. Lindbrook Capital LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock worth $40,000 after acquiring an additional 600 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of 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 valued at $47,000 after purchasing an additional 585 shares in the last quarter. PayPay Securities Corp grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the 4th quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock valued at $62,000 after purchasing an additional 403 shares during the last quarter. Finally, Covestor Ltd increased 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 purchasing an additional 889 shares in the last quarter.

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.