Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Hits New 12-Month High – Still a Buy?

Shares of Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $242.30 and last traded at $241.40, with a volume of 1208498 shares traded. The stock had previously closed at $236.62.

Direxion Daily S&P 500 Bull 3x Shares Stock Up 2.2%

The stock has a market cap of $5.74 billion, a PE ratio of 25.10 and a beta of 3.01. The business has a 50 day moving average price of $208.92 and a 200 day moving average price of $216.53.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Betterment LLC lifted 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 valued at $358,000 after purchasing an additional 57 shares during the period. Covestor Ltd grew its position in 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 holdings in 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 buying an additional 60 shares in the last quarter. Halbert Hargrove Global Advisors LLC increased its holdings in 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 valued at $35,000 after buying an additional 66 shares in the last quarter. Finally, Blueprint Financial Advisors LLC raised 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 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.