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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.79, but opened at $18.17. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $17.80, with a volume of 27,143,525 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock’s 50 day moving average price is $25.26 and its two-hundred day moving average price is $29.48. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 29.25 and a beta of 4.09.

Direxion Daily Semiconductors Bull 3x Shares Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.0648 per share. This is a positive change from Direxion Daily Semiconductors Bull 3x Shares’s previous dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 25th.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 40.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,025 shares of the company’s stock worth $219,000 after purchasing an additional 2,313 shares during the period. Barclays PLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 57.2% during the third quarter. Barclays PLC now owns 24,421 shares of the company’s stock valued at $896,000 after acquiring an additional 8,890 shares during the period. HighTower Advisors LLC increased its stake in Direxion Daily Semiconductors Bull 3x Shares by 55.7% during 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. Flow Traders U.S. LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 30.8% in the 3rd 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 in the last quarter. Finally, Taika Capital LP bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth approximately $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.