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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $40.62, but opened at $42.88. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $43.70, with a volume of 25,486,604 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The business has a fifty day moving average of $58.87 and a 200-day moving average of $48.33. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

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

A number of hedge funds have recently modified their holdings of SOXL. Avestar Capital LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 232.9% during the 2nd quarter. Avestar Capital LLC now owns 264,996 shares of the company’s stock worth $6,654,000 after buying an additional 185,383 shares during the period. APEIRON CAPITAL Ltd purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth approximately $4,181,000. Dakota Community Bank & Trust NA purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth $791,000. Orion Porfolio Solutions LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at about $1,657,000. Finally, M Holdings Securities Inc. lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 54.3% in the second quarter. M Holdings Securities Inc. now owns 35,866 shares of the company’s stock valued at $901,000 after acquiring an additional 12,620 shares during 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.