Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – What’s Next?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Monday . The stock had previously closed at $50.72, but opened at $54.06. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $54.73, with a volume of 24,218,345 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company’s 50 day simple moving average is $60.10 and its 200 day simple moving average is $46.61. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Simplex Trading LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 40.2% in the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock valued at $51,971,000 after purchasing an additional 354,575 shares in the last quarter. Jump Financial LLC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 185.6% during the third quarter. Jump Financial LLC now owns 1,192,948 shares of the company’s stock worth $41,562,000 after buying an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 105.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,174,290 shares of the company’s stock worth $40,912,000 after buying an additional 603,324 shares in the last quarter. Group One Trading LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 65.9% during the second quarter. Group One Trading LLC now owns 803,753 shares of the company’s stock worth $20,182,000 after buying an additional 319,393 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after buying an additional 516,575 shares during the period.

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.