Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $91.99, but opened at $107.38. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $112.00, with a volume of 35,885,140 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a fifty day simple moving average of $202.28 and a 200 day simple moving average of $123.09. The company has a market cap of $17.16 billion, a PE ratio of 35.63 and a beta of 5.66.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors have recently bought and sold shares of SOXL. Halbert Hargrove Global Advisors LLC increased its position 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 purchasing an additional 138 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $25,000. Western Wealth Management LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at $33,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at $38,000. Finally, 1248 Management LLC grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th 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 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.