Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Hits New 12-Month High – What’s Next?

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) hit a new 52-week high during trading on Tuesday . The stock traded as high as $290.25 and last traded at $290.18, with a volume of 1445263 shares changing hands. The stock had previously closed at $279.68.

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

The business has a fifty day moving average of $270.32 and a 200 day moving average of $241.13. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 25.10 and a beta of 3.02.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 389.6% in the first quarter. Goldman Sachs Group Inc. now owns 125,668 shares of the company’s stock valued at $17,643,000 after purchasing an additional 100,000 shares during the last quarter. Virtu Financial LLC grew its holdings in Direxion Daily S&P 500 Bull 3x Shares by 58.0% in the 4th 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 during the last quarter. Group One Trading LLC increased its position in Direxion Daily S&P 500 Bull 3x Shares by 1,181.5% in the 2nd quarter. Group One Trading LLC now owns 45,492 shares of the company’s stock worth $7,894,000 after buying an additional 41,942 shares during the period. Tower Research Capital LLC TRC increased its position in Direxion Daily S&P 500 Bull 3x Shares by 10.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 44,841 shares of the company’s stock worth $7,781,000 after buying an additional 4,130 shares during the period. Finally, Gainplan LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 3x Shares during the second quarter worth approximately $10,055,000.

About Direxion Daily S&P 500 Bull 3x Shares

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.