Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – What’s Next?

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped up before the market opened on Monday . The stock had previously closed at $19.28, but opened at $20.48. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $20.88, with a volume of 20,231,608 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock’s 50-day simple moving average is $25.77 and its 200 day simple moving average is $29.65. The stock has a market capitalization of $8.64 billion, a P/E ratio of 29.25 and a beta of 4.09.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOXL. Larson Financial Group LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 12,476.9% in the third quarter. Larson Financial Group LLC now owns 8,175 shares of the company’s stock valued at $300,000 after acquiring an additional 8,110 shares during the period. Flow Traders U.S. LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the third quarter. Flow Traders U.S. LLC now owns 106,628 shares of the company’s stock valued at $3,911,000 after acquiring an additional 25,079 shares during the period. HighTower Advisors LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 55.7% in the third quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock valued at $335,000 after acquiring an additional 3,263 shares during the period. Morse Asset Management Inc boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 88.2% in the third quarter. Morse Asset Management Inc now owns 30,541 shares of the company’s stock valued at $1,120,000 after acquiring an additional 14,316 shares during the period. Finally, Taika Capital LP bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter valued at about $3,765,000.

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.