Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Hits New 52-Week High – Still a Buy?

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $302.21 and last traded at $302.05, with a volume of 483831 shares. The stock had previously closed at $295.42.

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

The business’s fifty day simple moving average is $271.28 and its two-hundred day simple moving average is $243.61. The company has a market cap of $7.52 billion, a PE ratio of 25.10 and a beta of 3.02.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bull 3x Shares

Institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. raised its holdings in Direxion Daily S&P 500 Bull 3x Shares by 384.4% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 155 shares of the company’s stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Direxion Daily S&P 500 Bull 3x Shares by 54.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 187 shares of the company’s stock worth $35,000 after purchasing an additional 66 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 44.4% in the first quarter. Parallel Advisors LLC now owns 325 shares of the company’s stock valued at $60,000 after purchasing an additional 100 shares in the last quarter. Quattro Advisors LLC purchased a new stake in shares of Direxion Daily S&P 500 Bull 3x Shares in the fourth quarter valued at approximately $64,000. Finally, Bank of America Corp DE increased its holdings 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 valued at $80,000 after purchasing an additional 60 shares during the last quarter.

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.