Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Sets New 1-Year High – Here’s Why

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $165.75 and last traded at $165.70, with a volume of 1006748 shares. The stock had previously closed at $162.64.

Direxion Daily S&P 500 Bull 3X Stock Up 1.6 %

The company has a fifty day simple moving average of $150.70 and a 200-day simple moving average of $141.71. The firm has a market cap of $5.34 billion, a P/E ratio of 33.36 and a beta of 2.99.

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

Several large investors have recently made changes to their positions in the business. CRA Financial Services LLC purchased a new stake in shares of Direxion Daily S&P 500 Bull 3X in the third quarter worth about $235,000. Kelly Financial Services LLC lifted its position in shares of Direxion Daily S&P 500 Bull 3X by 1.4% in the third quarter. Kelly Financial Services LLC now owns 5,804 shares of the company’s stock worth $952,000 after buying an additional 79 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Direxion Daily S&P 500 Bull 3X in the third quarter worth about $205,000. Wallace Advisory Group LLC purchased a new stake in Direxion Daily S&P 500 Bull 3X during the second quarter valued at approximately $256,000. Finally, Creative Planning raised its position in Direxion Daily S&P 500 Bull 3X by 6.4% during the second quarter. Creative Planning now owns 6,523 shares of the company’s stock valued at $953,000 after purchasing an additional 390 shares during the period.

About Direxion Daily S&P 500 Bull 3X

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.