Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Time to 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 $9.15, but opened at $10.41. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $10.59, with a volume of 93,402,503 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $4.26 billion, a P/E ratio of 22.62 and a beta of 4.11. The stock has a fifty day moving average price of $21.10 and a 200 day moving average price of $27.90.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.0648 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is a positive change from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of SOXL. SBI Securities Co. Ltd. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth about $27,180,000. BNP Paribas Financial Markets increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% in the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock worth $8,193,000 after purchasing an additional 299,744 shares during the last quarter. Simplex Trading LLC raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the fourth quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock valued at $27,319,000 after purchasing an additional 235,607 shares in the last quarter. TB Alternative Assets Ltd. lifted its position in Direxion Daily Semiconductors Bull 3x Shares by 29.5% during the fourth quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock valued at $17,011,000 after purchasing an additional 141,941 shares during the last quarter. Finally, Variant Private Wealth LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $2,030,000.

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.