Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Reaches New 12-Month High – Time to Buy?

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $279.47 and last traded at $279.37, with a volume of 544313 shares changing hands. The stock had previously closed at $273.08.

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

The business has a 50-day simple moving average of $226.58 and a 200 day simple moving average of $222.78. The firm has a market cap of $6.67 billion, a P/E ratio of 25.10 and a beta of 3.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Betterment LLC raised its position in Direxion Daily S&P 500 Bull 3x Shares by 3.6% during the 4th quarter. Betterment LLC now owns 1,622 shares of the company’s stock valued at $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% during the fourth quarter. Covestor Ltd now owns 5,389 shares of the company’s stock valued at $1,189,000 after buying an additional 60 shares during the period. Bank of America Corp DE increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 14.6% during the fourth quarter. Bank of America Corp DE now owns 472 shares of the company’s stock valued at $80,000 after buying an additional 60 shares during the period. Halbert Hargrove Global Advisors LLC increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 54.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 187 shares of the company’s stock valued at $35,000 after buying an additional 66 shares during the period. Finally, Blueprint Financial Advisors LLC increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 0.5% during the third quarter. Blueprint Financial Advisors LLC now owns 15,767 shares of the company’s stock valued at $3,341,000 after buying an additional 77 shares during the period.

Direxion Daily S&P 500 Bull 3x Shares Company Profile

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.