Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down to $33.43

Shares of Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) gapped down before the market opened on Monday . The stock had previously closed at $33.43, but opened at $32.03. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $31.66, with a volume of 16,696,170 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 6.5 %

The stock has a 50 day simple moving average of $40.83 and a 200 day simple moving average of $45.13. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 37.08 and a beta of 5.47.

Institutional Trading of Direxion Daily Semiconductors Bull 3x Shares

Several institutional investors have recently made changes to their positions in SOXL. Meridian Wealth Management LLC raised its position in Direxion Daily Semiconductors Bull 3x Shares by 6.0% in the fourth quarter. Meridian Wealth Management LLC now owns 11,398 shares of the company’s stock worth $358,000 after acquiring an additional 649 shares during the period. Covestor Ltd lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 98.9% in the first quarter. Covestor Ltd now owns 1,760 shares of the company’s stock valued at $82,000 after purchasing an additional 875 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in Direxion Daily Semiconductors Bull 3x Shares in the first quarter worth $42,000. Westend Capital Management LLC bought a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the first quarter valued at $68,000. Finally, VitalStone Financial LLC raised its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 437.1% in the first quarter. VitalStone Financial LLC now owns 2,186 shares of the company’s stock valued at $102,000 after buying an additional 1,779 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.