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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down prior to trading on Monday . The stock had previously closed at $114.72, but opened at $106.15. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $102.13, with a volume of 23,578,955 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 0.2%

The business’s fifty day moving average is $199.49 and its 200 day moving average is $123.94. The stock has a market cap of $18.19 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 and hedge funds have recently modified their holdings of SOXL. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth $25,000. Raymond James Financial Inc. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at $25,000. Halbert Hargrove Global Advisors LLC grew its holdings 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 purchasing an additional 138 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at $33,000. Finally, 1248 Management LLC increased its position in shares of 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 buying an additional 200 shares in the last quarter.

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.