Short Interest in Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Expands By 29.7%

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,622,689 shares, an increase of 29.7% from the February 26th total of 1,251,081 shares. Based on an average daily volume of 4,337,885 shares, the days-to-cover ratio is presently 0.4 days. Currently, 6.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPXL. Alternative Investment Advisors LLC. lifted its holdings in shares of Direxion Daily S&P 500 Bull 3x Shares by 88.8% during the 4th quarter. Alternative Investment Advisors LLC. now owns 2,545 shares of the company’s stock worth $562,000 after acquiring an additional 1,197 shares during the period. Virtu Financial LLC increased its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 58.0% in the fourth quarter. Virtu Financial LLC now owns 55,957 shares of the company’s stock valued at $12,344,000 after buying an additional 20,544 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Direxion Daily S&P 500 Bull 3x Shares in the fourth quarter worth about $874,000. NewEdge Advisors LLC raised its position in Direxion Daily S&P 500 Bull 3x Shares by 10,730.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,083 shares of the company’s stock worth $239,000 after purchasing an additional 1,073 shares during the last quarter. Finally, XTX Topco Ltd raised its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 25.3% during the fourth quarter. XTX Topco Ltd now owns 1,701 shares of the company’s stock worth $375,000 after acquiring an additional 343 shares during the last quarter.

Direxion Daily S&P 500 Bull 3x Shares Trading Down 5.2%

SPXL traded down $9.46 during midday trading on Friday, reaching $172.05. The company’s stock had a trading volume of 4,851,002 shares, compared to its average volume of 3,248,252. The company has a fifty day simple moving average of $214.23 and a 200 day simple moving average of $216.27. The stock has a market cap of $4.31 billion, a P/E ratio of 25.10 and a beta of 3.03. Direxion Daily S&P 500 Bull 3x Shares has a twelve month low of $87.08 and a twelve month high of $234.09.

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.