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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $62.77, but opened at $58.11. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $60.4190, with a volume of 24,809,214 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 1.2%

The firm has a market capitalization of $11.94 billion, a PE ratio of 35.63 and a beta of 4.52. The business’s 50-day moving average price is $57.95 and its 200-day moving average price is $44.35.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Institutional investors have recently bought and sold shares of the company. Westwood Wealth Management grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 31.5% in the 2nd quarter. Westwood Wealth Management now owns 304,070 shares of the company’s stock valued at $7,635,000 after buying an additional 72,825 shares in the last quarter. Bank of Montreal Can grew its position in Direxion Daily Semiconductors Bull 3x Shares by 26.7% in the second quarter. Bank of Montreal Can now owns 5,933 shares of the company’s stock worth $149,000 after acquiring an additional 1,250 shares in the last quarter. Optivise Advisory Services LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 36.1% during the 2nd quarter. Optivise Advisory Services LLC now owns 17,956 shares of the company’s stock worth $451,000 after purchasing an additional 4,760 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at $22,677,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter valued at $735,000.

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.