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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Thursday . The stock had previously closed at $35.96, but opened at $38.79. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $38.6830, with a volume of 38,111,851 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 4.3%

The company’s fifty day moving average is $39.00 and its two-hundred day moving average is $28.71. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 35.63 and a beta of 4.52.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Scientech Research LLC purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at $446,000. Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth about $2,618,000. Larson Financial Group LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 1,426.9% in the 3rd quarter. Larson Financial Group LLC now owns 3,695 shares of the company’s stock valued at $129,000 after acquiring an additional 3,453 shares during the last quarter. Lido Advisors LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter valued at about $213,000. Finally, Integrated Wealth Concepts LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 3.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,405 shares of the company’s stock worth $2,174,000 after acquiring an additional 2,119 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.