Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down to $60.02

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Friday . The stock had previously closed at $60.02, but opened at $58.42. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $57.85, with a volume of 6,520,510 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a fifty day simple moving average of $46.63 and a 200 day simple moving average of $40.43. The company has a market capitalization of $15.77 billion, a PE ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at $42,000. AlphaMark Advisors LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 313.6% in the 4th quarter. AlphaMark Advisors LLC now owns 910 shares of the company’s stock valued at $29,000 after acquiring an additional 690 shares during the period. Westend Capital Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at $68,000. Anchor Investment Management LLC purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at $53,000. Finally, Covestor Ltd increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 98.9% in the 1st quarter. Covestor Ltd now owns 1,760 shares of the company’s stock valued at $82,000 after acquiring an additional 875 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.