Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Time to Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Wednesday . The stock had previously closed at $266.32, but opened at $281.47. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $266.76, with a volume of 12,962,746 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 6.4%

The business’s 50-day simple moving average is $133.64 and its 200 day simple moving average is $81.09. The firm has a market capitalization of $35.60 billion, a P/E ratio of 35.63 and a beta of 5.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at approximately $25,000. Raymond James Financial Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in 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 during the last quarter. Addison Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth approximately $33,000. Finally, Western Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth approximately $33,000.

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.