Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Shares Gap Down – Time to Sell?

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)’s share price gapped down prior to trading on Monday . The stock had previously closed at $101.50, but opened at $91.46. Direxion Daily S&P 500 Bull 3X shares last traded at $88.01, with a volume of 3,038,809 shares traded.

Direxion Daily S&P 500 Bull 3X Stock Performance

The firm has a market capitalization of $2.90 billion, a PE ratio of 22.84 and a beta of 3.03. The firm’s 50 day moving average price is $162.03 and its 200-day moving average price is $169.23.

Direxion Daily S&P 500 Bull 3X Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.4935 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Direxion Daily S&P 500 Bull 3X’s previous dividend of $0.19.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Howard Capital Management Inc. lifted its position in shares of Direxion Daily S&P 500 Bull 3X by 16.6% during the 4th quarter. Howard Capital Management Inc. now owns 2,418,951 shares of the company’s stock valued at $408,077,000 after buying an additional 344,346 shares in the last quarter. Wealthstar Advisors LLC purchased a new position in Direxion Daily S&P 500 Bull 3X during the fourth quarter valued at $50,038,000. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily S&P 500 Bull 3X in the fourth quarter valued at about $24,552,000. Gainplan LLC grew its position in shares of Direxion Daily S&P 500 Bull 3X by 275.2% in the fourth quarter. Gainplan LLC now owns 62,666 shares of the company’s stock valued at $10,572,000 after purchasing an additional 45,966 shares during the period. Finally, Members Advisory Group LLC purchased a new stake in shares of Direxion Daily S&P 500 Bull 3X during the fourth quarter worth about $5,361,000.

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.