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 prior to trading on Monday . The stock had previously closed at $19.28, but opened at $20.48. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.88, with a volume of 20,231,608 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 29.25 and a beta of 4.09. The business’s 50-day moving average is $25.49 and its 200-day moving average is $29.55.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a $0.0648 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This is a boost from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

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

A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the fourth quarter worth $29,000. Copia Wealth Management bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter worth about $36,000. Lindbrook Capital LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 70.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,450 shares of the company’s stock valued at $40,000 after acquiring an additional 600 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after acquiring an additional 585 shares during the last quarter. Finally, PayPay Securities Corp lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 21.6% during the fourth quarter. PayPay Securities Corp now owns 2,269 shares of the company’s stock worth $62,000 after purchasing an additional 403 shares in the last quarter.

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.