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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $35.21, but opened at $37.31. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $36.26, with a volume of 26,274,338 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 2.2 %

The stock has a 50-day simple moving average of $34.80 and a 200-day simple moving average of $43.91. The firm has a market capitalization of $9.75 billion, a PE ratio of 37.08 and a beta of 5.47.

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

Large investors have recently made changes to their positions in the stock. Global Assets Advisory LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth $13,683,000. SG Americas Securities LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 56.4% during the second quarter. SG Americas Securities LLC now owns 39,276 shares of the company’s stock valued at $2,174,000 after buying an additional 14,170 shares during the period. Morse Asset Management Inc lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 31.1% during the second quarter. Morse Asset Management Inc now owns 16,225 shares of the company’s stock worth $898,000 after purchasing an additional 3,848 shares during the last quarter. HB Wealth Management LLC bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $623,000. Finally, XTX Topco Ltd bought a new stake in Direxion Daily Semiconductors Bull 3x Shares during the second quarter worth about $503,000.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

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.