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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down prior to trading on Thursday . The stock had previously closed at $280.54, but opened at $242.04. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $238.53, with a volume of 15,302,170 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 8.1%

The company’s fifty day moving average is $129.48 and its 200 day moving average is $79.52. The stock has a market cap of $34.92 billion, a PE ratio of 35.63 and a beta of 5.55.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 138 shares in the last quarter. Verus Capital Partners LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.7% during the fourth quarter. Verus Capital Partners LLC now owns 11,774 shares of the company’s stock worth $495,000 after purchasing an additional 200 shares in the last quarter. 1248 Management LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. SteelPeak Wealth LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the first quarter. SteelPeak Wealth LLC now owns 22,757 shares of the company’s stock worth $1,090,000 after purchasing an additional 266 shares in the last quarter. Finally, Kaizen Financial Strategies lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 4.6% during the first quarter. Kaizen Financial Strategies now owns 7,960 shares of the company’s stock worth $381,000 after purchasing an additional 350 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.