Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $35.15, but opened at $33.44. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $33.67, with a volume of 12,271,691 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market cap of $8.85 billion, a PE ratio of 37.08 and a beta of 5.47. The company’s 50-day simple moving average is $29.57 and its two-hundred day simple moving average is $34.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOXL. Anchor Investment Management LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 585 shares in the last quarter. Covestor Ltd raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% in the third quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after buying an additional 889 shares in the last quarter. Signaturefd LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after buying an additional 300 shares in the last quarter. Bogart Wealth LLC purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth about $106,000. Finally, Hollencrest Capital Management boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock valued at $109,000 after acquiring an additional 2,863 shares in the last quarter.

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.