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

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $68.17, but opened at $73.75. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $74.3240, with a volume of 42,614,174 shares trading hands.

Direxion Daily Semiconductors Bull 3X ETF Price Performance

The company has a market cap of $9.70 billion, a PE ratio of 35.63 and a beta of 5.93. The business’s 50 day moving average is $118.28 and its 200-day moving average is $123.71.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Institutional investors have recently modified their holdings of the company. Simplex Trading LLC acquired a new position in Direxion Daily Semiconductors Bull 3X ETF during the third quarter worth $29,328,000. IMC Chicago LLC increased its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock valued at $18,389,000 after buying an additional 324,775 shares in the last quarter. Optiver Holding B.V. increased 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 in the last quarter. M Holdings Securities Inc. increased its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 4.5% in the third quarter. M Holdings Securities Inc. now owns 47,601 shares of the company’s stock valued at $7,038,000 after buying an additional 2,048 shares in the last quarter. Finally, Client First Investment Management LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3X ETF by 117.3% during the 3rd quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock worth $4,827,000 after buying an additional 17,621 shares during the last quarter.

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.