Wealthstar Advisors LLC Makes New $50.04 Million Investment in Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)

Wealthstar Advisors LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 296,610 shares of the company’s stock, valued at approximately $50,038,000. Direxion Daily S&P 500 Bull 3X comprises about 21.7% of Wealthstar Advisors LLC’s holdings, making the stock its biggest holding. Wealthstar Advisors LLC owned approximately 0.93% of Direxion Daily S&P 500 Bull 3X as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its position in 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 worth $195,000 after buying an additional 929 shares in the last quarter. Wealth Alliance Advisory Group LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 3X in the fourth quarter valued at approximately $203,000. Brookstone Capital Management bought a new position in Direxion Daily S&P 500 Bull 3X in the 3rd quarter valued at approximately $205,000. Trinity Legacy Partners LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X during the 3rd quarter worth approximately $223,000. Finally, CRA Financial Services LLC bought a new stake in Direxion Daily S&P 500 Bull 3X during the 3rd quarter worth approximately $235,000.

Direxion Daily S&P 500 Bull 3X Stock Performance

Shares of NYSEARCA SPXL opened at $178.49 on Monday. The firm has a 50 day moving average price of $178.54 and a two-hundred day moving average price of $165.82. The stock has a market cap of $5.68 billion, a P/E ratio of 33.36 and a beta of 2.99. Direxion Daily S&P 500 Bull 3X has a 52-week low of $111.54 and a 52-week high of $190.34.

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.