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

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up prior to trading on Tuesday . The stock had previously closed at $29.33, but opened at $30.04. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $29.33, with a volume of 12,371,184 shares trading hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 4.1 %

The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The business’s 50 day simple moving average is $33.61 and its 200 day simple moving average is $41.70.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

A number of large investors have recently added to or reduced their stakes in the company. TB Alternative Assets Ltd. acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth about $17,641,000. IMC Chicago LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $24,699,000. CloudAlpha Capital Management Limited Hong Kong raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock worth $14,049,000 after purchasing an additional 205,910 shares in the last quarter. Westwood Wealth Management raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 4.0% in the 2nd quarter. Westwood Wealth Management now owns 226,970 shares of the company’s stock worth $12,565,000 after purchasing an additional 8,655 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares in the 2nd quarter worth about $7,760,000.

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.