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 Monday . The stock had previously closed at $181.47, but opened at $197.21. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $206.08, with a volume of 11,482,633 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 15.1%

The business has a fifty day moving average price of $203.60 and a 200-day moving average price of $111.10. The stock has a market capitalization of $19.59 billion, a P/E ratio of 35.63 and a beta of 5.66.

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

Several institutional investors and hedge funds have recently bought and sold shares of SOXL. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 4th quarter valued at $25,000. Raymond James Financial Inc. purchased a new position in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth $25,000. Halbert Hargrove Global Advisors LLC increased its position in Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 138 shares in the last quarter. Western Wealth Management LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter valued at about $33,000. Finally, 1248 Management LLC raised 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 valued at $34,000 after buying an additional 200 shares during 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.