Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Sees Significant Decline in Short Interest

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) saw a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 1,526,457 shares, a drop of 16.7% from the January 29th total of 1,832,984 shares. Currently, 6.1% of the shares of the company are short sold. Based on an average daily volume of 3,270,782 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 3,270,782 shares, the days-to-cover ratio is presently 0.5 days. Currently, 6.1% of the shares of the company are short sold.

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

Direxion Daily S&P 500 Bull 3x Shares stock opened at $218.35 on Thursday. The company has a market capitalization of $5.47 billion, a P/E ratio of 25.10 and a beta of 3.03. Direxion Daily S&P 500 Bull 3x Shares has a fifty-two week low of $87.08 and a fifty-two week high of $234.09. The stock has a 50-day simple moving average of $224.51 and a 200-day simple moving average of $215.59.

Institutional Trading of Direxion Daily S&P 500 Bull 3x Shares

Large investors have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC acquired a new position in Direxion Daily S&P 500 Bull 3x Shares in the third quarter valued at $26,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Direxion Daily S&P 500 Bull 3x Shares by 384.4% during the third quarter. Newbridge Financial Services Group Inc. now owns 155 shares of the company’s stock worth $33,000 after buying an additional 123 shares during the last quarter. Anchor Investment Management LLC purchased a new position in shares of Direxion Daily S&P 500 Bull 3x Shares during the second quarter worth about $52,000. FSA Wealth Management LLC acquired a new position in Direxion Daily S&P 500 Bull 3x Shares in the 2nd quarter valued at about $54,000. Finally, Quattro Advisors LLC purchased a new stake in Direxion Daily S&P 500 Bull 3x Shares during the 4th quarter valued at approximately $64,000.

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.