Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL) Shares Break Above 50-Day Moving Average – Time to Sell?

Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $286.70 and traded as high as $290.17. Direxion Daily S&P 500 Bull 3X ETF shares last traded at $288.95, with a volume of 1,162,465 shares trading hands.

Direxion Daily S&P 500 Bull 3X ETF Price Performance

The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 25.10 and a beta of 3.03. The firm’s fifty day moving average is $286.70 and its two-hundred day moving average is $254.69.

Institutional Trading of Direxion Daily S&P 500 Bull 3X ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Direxion Daily S&P 500 Bull 3X ETF in the 3rd quarter worth approximately $47,000. Signaturefd LLC bought a new position in shares of Direxion Daily S&P 500 Bull 3X ETF in the third quarter valued at approximately $50,000. Parallel Advisors LLC boosted its holdings in shares of Direxion Daily S&P 500 Bull 3X ETF by 44.4% in the first quarter. Parallel Advisors LLC now owns 325 shares of the company’s stock valued at $60,000 after acquiring an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily S&P 500 Bull 3X ETF during the third quarter valued at approximately $73,000. Finally, Main Street Group LTD acquired a new position in shares of Direxion Daily S&P 500 Bull 3X ETF during the first quarter valued at approximately $136,000.

About Direxion Daily S&P 500 Bull 3X ETF

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.