Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down to $37.66

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped down before the market opened on Monday . The stock had previously closed at $37.66, but opened at $36.25. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $37.02, with a volume of 13,481,033 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm’s 50 day simple moving average is $35.70 and its 200 day simple moving average is $44.15. The firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Assets Advisory LLC acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at about $13,683,000. SG Americas Securities LLC boosted its position in Direxion Daily Semiconductors Bull 3x Shares by 56.4% in the 2nd quarter. SG Americas Securities LLC now owns 39,276 shares of the company’s stock worth $2,174,000 after purchasing an additional 14,170 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 31.1% during the 2nd 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 period. HB Wealth Management LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter worth approximately $623,000. Finally, XTX Topco Ltd purchased a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 2nd quarter valued at approximately $503,000.

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.