Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Reaches New 12-Month High – Should You Buy?

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $174.35 and last traded at $174.18, with a volume of 1359177 shares traded. The stock had previously closed at $163.80.

Direxion Daily S&P 500 Bull 3X Stock Performance

The stock has a 50-day simple moving average of $159.52 and a two-hundred day simple moving average of $146.97. The firm has a market cap of $5.60 billion, a PE ratio of 33.36 and a beta of 2.99.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC lifted its holdings in Direxion Daily S&P 500 Bull 3X by 5.5% in the 3rd quarter. Private Advisor Group LLC now owns 1,447 shares of the company’s stock worth $237,000 after purchasing an additional 75 shares in the last quarter. Kelly Financial Services LLC raised its holdings in shares of Direxion Daily S&P 500 Bull 3X by 1.4% during the 3rd quarter. Kelly Financial Services LLC now owns 5,804 shares of the company’s stock worth $952,000 after acquiring an additional 79 shares in the last quarter. NovaPoint Capital LLC raised its holdings in shares of Direxion Daily S&P 500 Bull 3X by 7.5% during the 2nd quarter. NovaPoint Capital LLC now owns 1,701 shares of the company’s stock worth $248,000 after acquiring an additional 119 shares in the last quarter. Summit Financial Strategies Inc. raised its holdings in shares of Direxion Daily S&P 500 Bull 3X by 6.8% during the 3rd quarter. Summit Financial Strategies Inc. now owns 3,285 shares of the company’s stock worth $539,000 after acquiring an additional 209 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Direxion Daily S&P 500 Bull 3X by 6.4% during the 2nd quarter. Creative Planning now owns 6,523 shares of the company’s stock worth $953,000 after acquiring an additional 390 shares in the last quarter.

Direxion Daily S&P 500 Bull 3X 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.