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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Friday . The stock had previously closed at $48.79, but opened at $46.92. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $44.3490, with a volume of 29,212,500 shares.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a market capitalization of $12.22 billion, a PE ratio of 35.63 and a beta of 4.52. The stock’s fifty day moving average is $41.87 and its 200-day moving average is $31.77.

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

Several hedge funds and other institutional investors have recently made changes to their positions in SOXL. M Holdings Securities Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth approximately $371,000. Westwood Wealth Management boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 1.2% during the 1st quarter. Westwood Wealth Management now owns 231,245 shares of the company’s stock worth $3,688,000 after purchasing an additional 2,800 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $570,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $750,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 1,626.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 34,538 shares of the company’s stock valued at $867,000 after buying an additional 32,538 shares during the last quarter.

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.