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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Monday . The stock had previously closed at $181.47, but opened at $197.21. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $206.08, with a volume of 11,482,633 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The company has a 50-day moving average price of $201.22 and a 200-day moving average price of $109.11. The firm has a market capitalization of $24.67 billion, a price-to-earnings ratio of 35.63 and a beta of 5.66.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $25,000. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 138 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at $33,000. Finally, 1248 Management LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during 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.