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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $128.15, but opened at $113.15. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $107.74, with a volume of 31,627,789 shares.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 12.6%

The company has a market capitalization of $15.28 billion, a P/E ratio of 35.63 and a beta of 5.66. The business’s fifty day moving average price is $204.75 and its 200-day moving average price is $122.38.

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

Several hedge funds have recently added to or reduced their stakes in SOXL. Pin Oak Investment Advisors Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth about $25,000. Raymond James Financial Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC lifted its position in 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 buying an additional 138 shares during the last quarter. Western Wealth Management LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter worth approximately $33,000. Finally, 1248 Management LLC boosted its stake 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 in 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.