Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL) Shares Gap Down – Here’s What Happened

Direxion Daily Semiconductors Bull 3X ETF (NYSEARCA:SOXL)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $128.40, but opened at $118.42. Direxion Daily Semiconductors Bull 3X ETF shares last traded at $123.0430, with a volume of 24,334,386 shares traded.

Direxion Daily Semiconductors Bull 3X ETF Stock Performance

The stock has a market cap of $18.20 billion, a P/E ratio of 35.63 and a beta of 5.75. The firm’s 50 day moving average is $131.03 and its 200 day moving average is $149.33.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3X ETF

Institutional investors have recently bought and sold shares of the company. IMC Chicago LLC grew its holdings in Direxion Daily Semiconductors Bull 3X ETF by 550.1% in the first quarter. IMC Chicago LLC now owns 383,819 shares of the company’s stock worth $18,389,000 after purchasing an additional 324,775 shares during the last quarter. Optiver Holding B.V. increased its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 831.0% during the first quarter. Optiver Holding B.V. now owns 281,863 shares of the company’s stock worth $13,525,000 after purchasing an additional 251,587 shares in the last quarter. Client First Investment Management LLC increased its position in shares of Direxion Daily Semiconductors Bull 3X ETF by 117.3% during the third quarter. Client First Investment Management LLC now owns 32,643 shares of the company’s stock worth $4,827,000 after purchasing an additional 17,621 shares in the last quarter. Clearwater Capital Advisors LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the 1st quarter valued at $791,000. Finally, Triton Wealth Management PLLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3X ETF during the 1st quarter valued at $731,000.

About Direxion Daily Semiconductors Bull 3X ETF

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.