Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Hits New 12-Month High – Should You Buy?

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) shares reached a new 52-week high on Friday . The company traded as high as $232.31 and last traded at $232.0830, with a volume of 1513917 shares trading hands. The stock had previously closed at $227.55.

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

The business’s fifty day simple moving average is $219.59 and its 200 day simple moving average is $203.46. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 25.10 and a beta of 3.03.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bull 3x Shares

Several hedge funds and other institutional investors have recently bought and sold shares of SPXL. Bank of America Corp DE boosted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 14.6% during the 4th quarter. Bank of America Corp DE now owns 472 shares of the company’s stock valued at $80,000 after buying an additional 60 shares during the last quarter. Blueprint Financial Advisors LLC boosted its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 0.5% during the third quarter. Blueprint Financial Advisors LLC now owns 15,767 shares of the company’s stock worth $3,341,000 after buying an additional 77 shares during the period. Blueprint Investment Partners LLC grew its holdings in Direxion Daily S&P 500 Bull 3x Shares by 0.6% in the 3rd quarter. Blueprint Investment Partners LLC now owns 16,369 shares of the company’s stock worth $3,469,000 after buying an additional 90 shares in the last quarter. Raymond James Financial Inc. increased its position in Direxion Daily S&P 500 Bull 3x Shares by 8.5% in the 3rd quarter. Raymond James Financial Inc. now owns 1,439 shares of the company’s stock valued at $305,000 after acquiring an additional 113 shares during the period. Finally, Main Street Group LTD raised its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 18.6% during the second quarter. Main Street Group LTD now owns 734 shares of the company’s stock valued at $127,000 after purchasing an additional 115 shares in the last quarter.

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.