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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $56.09, but opened at $53.53. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $51.34, with a volume of 31,517,787 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 8.1%

The stock has a market cap of $9.92 billion, a PE ratio of 35.63 and a beta of 4.52. The business’s 50-day moving average price is $59.76 and its 200-day moving average price is $45.79.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds and other institutional investors have recently made changes to their positions in SOXL. Pin Oak Investment Advisors Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth $25,000. 1248 Management LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 33.3% in the fourth quarter. 1248 Management LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth about $36,000. Tucker Asset Management LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth about $37,000. Finally, Addison Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the third quarter worth about $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.