Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Sets New 52-Week High – Should You Buy?

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $269.01 and last traded at $267.27, with a volume of 1487137 shares traded. The stock had previously closed at $265.56.

Direxion Daily S&P 500 Bull 3x Shares Stock Performance

The company’s 50 day moving average price is $215.23 and its 200-day moving average price is $219.47. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 25.10 and a beta of 3.02.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bull 3x Shares

Several hedge funds have recently made changes to their positions in the business. Betterment LLC grew its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 3.6% in the 4th quarter. Betterment LLC now owns 1,622 shares of the company’s stock worth $358,000 after purchasing an additional 57 shares during the last quarter. Covestor Ltd increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 1.1% in the fourth quarter. Covestor Ltd now owns 5,389 shares of the company’s stock worth $1,189,000 after acquiring an additional 60 shares in the last quarter. Bank of America Corp DE increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 14.6% in the fourth quarter. Bank of America Corp DE now owns 472 shares of the company’s stock worth $80,000 after acquiring an additional 60 shares in the last quarter. Halbert Hargrove Global Advisors LLC increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 54.5% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 187 shares of the company’s stock worth $35,000 after acquiring an additional 66 shares in the last quarter. Finally, Blueprint Financial Advisors LLC increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 0.5% in the third quarter. Blueprint Financial Advisors LLC now owns 15,767 shares of the company’s stock worth $3,341,000 after acquiring an additional 77 shares in the last quarter.

About Direxion Daily S&P 500 Bull 3x Shares

Direxion Daily S&P 500 Bull 3X Shares, formerly Direxion Daily Large Cap Bull 3X Shares, seeks daily investment results of 300% of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.