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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $42.03, but opened at $45.13. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $47.5020, with a volume of 18,989,294 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 10.0%

The firm’s 50 day simple moving average is $42.46 and its two-hundred day simple moving average is $33.92. The stock has a market capitalization of $13.55 billion, a P/E ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.1% during the second quarter. SBI Securities Co. Ltd. now owns 1,669,259 shares of the company’s stock worth $41,915,000 after purchasing an additional 526,417 shares during the period. Jump Financial LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the 3rd quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock valued at $41,562,000 after purchasing an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock valued at $40,912,000 after purchasing an additional 603,324 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $22,677,000. Finally, Group One Trading LLC lifted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 65.9% in the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock valued at $20,182,000 after buying an additional 319,393 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.