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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $29.33, but opened at $30.04. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $29.33, with a volume of 12,371,184 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market capitalization of $7.72 billion, a P/E ratio of 37.08 and a beta of 5.47. The business’s fifty day moving average price is $33.77 and its two-hundred day moving average price is $41.89.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Anchor Investment Management LLC raised its position 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 during the last quarter. Covestor Ltd raised 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 buying an additional 889 shares during the last quarter. Signaturefd LLC raised its position 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 worth $73,000 after buying an additional 300 shares during the last quarter. Bogart Wealth LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth approximately $106,000. Finally, Hollencrest Capital Management raised its position 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 worth $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.