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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $172.52, but opened at $183.84. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $178.01, with a volume of 26,793,125 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company has a market cap of $25.15 billion, a P/E ratio of 35.63 and a beta of 5.55. The company has a 50 day moving average of $81.98 and a 200-day moving average of $61.75.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SOXL. Pin Oak Investment Advisors Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter valued at $25,000. Raymond James Financial Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at $25,000. Halbert Hargrove Global Advisors LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after acquiring an additional 138 shares during the last quarter. Addison Advisors LLC bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at $33,000. Finally, 1248 Management LLC increased 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 acquiring an additional 200 shares during 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.