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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Thursday . The stock had previously closed at $38.61, but opened at $37.10. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $37.34, with a volume of 23,341,000 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The company’s 50 day moving average price is $34.53 and its 200 day moving average price is $43.68. The firm has a market capitalization of $10.48 billion, a P/E ratio of 37.08 and a beta of 5.47.

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

Institutional investors have recently modified their holdings of the business. Hazlett Burt & Watson Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $42,000. Westend Capital Management LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth about $68,000. Covestor Ltd increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 98.9% in the 1st quarter. Covestor Ltd now owns 1,760 shares of the company’s stock valued at $82,000 after acquiring an additional 875 shares during the last quarter. VitalStone Financial LLC increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 437.1% in the 1st quarter. VitalStone Financial LLC now owns 2,186 shares of the company’s stock valued at $102,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Hollencrest Capital Management raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 82,200.0% in the 1st quarter. Hollencrest Capital Management now owns 4,115 shares of the company’s stock valued at $191,000 after acquiring an additional 4,110 shares during the period.

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.