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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Monday . The stock had previously closed at $120.60, but opened at $115.07. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $106.03, with a volume of 18,811,964 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a market cap of $18.16 billion, a PE ratio of 35.63 and a beta of 5.73. The company has a 50-day moving average price of $172.41 and a two-hundred day moving average price of $131.47.

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

A number of institutional investors and hedge funds have recently bought and sold shares of SOXL. Pin Oak Investment Advisors Inc. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at approximately $25,000. Raymond James Financial Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $25,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during 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 in the last quarter. Western Wealth Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at $33,000. Finally, 1248 Management LLC grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares in 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.