Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Hits New 52-Week High – What’s Next?

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $184.28 and last traded at $184.17, with a volume of 762574 shares changing hands. The stock had previously closed at $181.42.

Direxion Daily S&P 500 Bull 3X Trading Up 1.8 %

The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 33.36 and a beta of 2.99. The stock’s 50-day moving average is $169.73 and its 200-day moving average is $153.69.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Direxion Daily S&P 500 Bull 3X in the 2nd quarter valued at approximately $80,000. Larson Financial Group LLC raised its stake in shares of Direxion Daily S&P 500 Bull 3X by 358.7% during the third quarter. Larson Financial Group LLC now owns 1,188 shares of the company’s stock valued at $195,000 after acquiring an additional 929 shares during the last quarter. Wealthspire Advisors LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 3X during the second quarter worth $205,000. Brookstone Capital Management acquired a new position in shares of Direxion Daily S&P 500 Bull 3X during the third quarter worth $205,000. Finally, First Western Trust Bank bought a new stake in shares of Direxion Daily S&P 500 Bull 3X in the second quarter worth $218,000.

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.