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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up prior to trading on Monday . The stock had previously closed at $29.82, but opened at $31.81. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $33.16, with a volume of 27,089,896 shares changing hands.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47. The company’s 50 day simple moving average is $29.71 and its 200 day simple moving average is $36.86.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the company. VitalStone Financial LLC grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 326.4% in the 2nd quarter. VitalStone Financial LLC now owns 9,321 shares of the company’s stock worth $516,000 after acquiring an additional 7,135 shares during the last quarter. Edgestream Partners L.P. increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 208.9% in the 2nd quarter. Edgestream Partners L.P. now owns 17,940 shares of the company’s stock worth $993,000 after purchasing an additional 12,133 shares in the last quarter. Virtu Financial LLC acquired a new stake in Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth about $7,760,000. XTX Topco Ltd purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter valued at about $503,000. Finally, Morse Asset Management Inc boosted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 31.1% in the second quarter. Morse Asset Management Inc now owns 16,225 shares of the company’s stock worth $898,000 after buying an additional 3,848 shares during the period.

About Direxion Daily Semiconductors Bull 3x Shares

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.