Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Down – Time to Sell?

Shares of Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) gapped down before the market opened on Thursday . The stock had previously closed at $146.25, but opened at $138.47. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $141.1760, with a volume of 17,602,343 shares traded.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The stock’s 50 day moving average is $126.11 and its two-hundred day moving average is $140.45. The stock has a market capitalization of $24.18 billion, a PE ratio of 35.63 and a beta of 5.73.

Institutional Trading of Direxion Daily Semiconductors Bull 3X ETF

A number of institutional investors have recently made changes to their positions in SOXL. Simplex Trading LLC increased its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 40.2% during the fourth quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after purchasing an additional 354,575 shares in the last quarter. IMC Chicago LLC boosted its stake in Direxion Daily Semiconductors Bull 3X ETF by 550.1% during the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after purchasing an additional 324,775 shares during the last quarter. Optiver Holding B.V. raised its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% in the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock valued at $13,525,000 after buying an additional 251,587 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 53.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 99,847 shares of the company’s stock worth $4,197,000 after buying an additional 34,932 shares in the last quarter. Finally, Avestar Capital LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3X ETF in the fourth quarter worth about $2,514,000.

Direxion Daily Semiconductors Bull 3X ETF 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.