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

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up before the market opened on Monday . The stock had previously closed at $29.82, but opened at $31.81. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $33.16, with a volume of 27,089,896 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Up 12.1 %

The company’s fifty day moving average price is $29.91 and its 200 day moving average price is $37.43. The company has a market capitalization of $9.06 billion, a P/E ratio of 37.08 and a beta of 5.47.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC increased its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% during the third quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 585 shares during the period. Covestor Ltd boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 101.4% during the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock worth $65,000 after acquiring an additional 889 shares in the last quarter. Signaturefd LLC boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% during the 3rd quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock worth $73,000 after acquiring an additional 300 shares in the last quarter. Bogart Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares during the 3rd quarter worth approximately $106,000. Finally, Hollencrest Capital Management boosted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the 3rd quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock worth $109,000 after acquiring an additional 2,863 shares in 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.