Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Here’s Why

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $35.15, but opened at $33.44. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $33.67, with a volume of 12,271,691 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Trading Down 3.1 %

The company has a market cap of $9.23 billion, a P/E ratio of 37.08 and a beta of 5.47. The stock’s 50 day moving average is $29.35 and its 200-day moving average is $34.99.

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

A number of hedge funds have recently bought and sold shares of SOXL. Barclays PLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 57.2% during the 3rd quarter. Barclays PLC now owns 24,421 shares of the company’s stock valued at $896,000 after purchasing an additional 8,890 shares during the last quarter. Creative Planning bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter valued at approximately $216,000. Prime Capital Investment Advisors LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 14.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 8,244 shares of the company’s stock worth $302,000 after purchasing an additional 1,018 shares during the period. HighTower Advisors LLC boosted its stake in Direxion Daily Semiconductors Bull 3x Shares by 55.7% in the 3rd quarter. HighTower Advisors LLC now owns 9,118 shares of the company’s stock worth $335,000 after purchasing an additional 3,263 shares during the period. Finally, Campbell Capital Management Inc. bought a new position in Direxion Daily Semiconductors Bull 3x Shares in the 3rd quarter worth approximately $1,064,000.

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.