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 Tuesday . The stock had previously closed at $151.53, but opened at $134.20. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $130.65, with a volume of 22,993,156 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm’s 50-day simple moving average is $179.38 and its 200 day simple moving average is $129.89. The company has a market cap of $21.75 billion, a P/E ratio of 35.63 and a beta of 5.73.

Institutional Investors 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 stock. Avestar Capital LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth about $2,514,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after buying an additional 516,575 shares during the period. Larson Financial Group LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 91.1% in the 4th quarter. Larson Financial Group LLC now owns 7,061 shares of the company’s stock valued at $297,000 after acquiring an additional 3,366 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 8.4% in the 4th quarter. HighTower Advisors LLC now owns 41,910 shares of the company’s stock valued at $1,761,000 after acquiring an additional 3,233 shares during the last quarter. Finally, SLT Holdings LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at approximately $240,000.

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.