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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Tuesday . The stock had previously closed at $211.44, but opened at $227.06. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $227.98, with a volume of 13,980,666 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 21.2%

The company has a market cap of $22.59 billion, a P/E ratio of 35.63 and a beta of 5.70. The stock’s 50-day moving average price is $139.40 and its 200-day moving average price is $83.37.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors and hedge funds have recently made changes to their positions in SOXL. Jump Financial LLC boosted its position in shares of 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 worth $41,562,000 after purchasing an additional 775,222 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 worth $40,912,000 after purchasing an additional 603,324 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 95,133.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 517,118 shares of the company’s stock worth $21,734,000 after purchasing an additional 516,575 shares in the last quarter. Simplex Trading LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.2% during the 4th quarter. Simplex Trading LLC now owns 1,236,517 shares of the company’s stock worth $51,971,000 after purchasing an additional 354,575 shares in the last quarter. Finally, IMC Chicago LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 550.1% during the 1st quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after purchasing an additional 324,775 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.