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 Wednesday . The stock had previously closed at $266.71, but opened at $237.79. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $243.84, with a volume of 14,818,026 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market cap of $21.47 billion, a P/E ratio of 35.63 and a beta of 5.66. The business’s 50 day simple moving average is $199.70 and its 200 day simple moving average is $108.12.

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

Hedge funds have recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $25,000. Raymond James Financial Inc. bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at $25,000. Halbert Hargrove Global Advisors LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after acquiring an additional 138 shares in the last quarter. Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $33,000. Finally, 1248 Management LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during 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 period.

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.