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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up before the market opened on Friday . The stock had previously closed at $106.74, but opened at $111.22. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $116.7760, with a volume of 19,037,662 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 8.9%

The business has a fifty day moving average of $146.49 and a 200 day moving average of $134.69. The company has a market cap of $19.69 billion, a P/E ratio of 35.63 and a beta of 5.73.

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

A number of institutional investors have recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% in the 1st 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. Pin Oak Investment Advisors Inc. bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter valued at $25,000. Western Wealth Management LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $33,000. St. Johns Investment Management Company LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth about $38,000. Finally, 1248 Management LLC raised its holdings in 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 worth $34,000 after buying an additional 200 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.