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 during trading on Friday . The company traded as high as $236.31 and last traded at $235.45, with a volume of 803889 shares. The stock had previously closed at $230.62.

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

The stock has a 50-day moving average price of $207.71 and a 200 day moving average price of $215.69. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 25.10 and a beta of 3.01.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bull 3x Shares

Several institutional investors have recently added to or reduced their stakes in the stock. Betterment LLC boosted its holdings in Direxion Daily S&P 500 Bull 3x Shares by 3.6% in the 4th quarter. Betterment LLC now owns 1,622 shares of the company’s stock valued at $358,000 after purchasing an additional 57 shares in the last quarter. Covestor Ltd boosted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 1.1% during the 4th quarter. Covestor Ltd now owns 5,389 shares of the company’s stock worth $1,189,000 after acquiring an additional 60 shares in the last quarter. 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 worth $80,000 after acquiring an additional 60 shares in the last quarter. Blueprint Financial Advisors LLC boosted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 0.5% during the 3rd quarter. Blueprint Financial Advisors LLC now owns 15,767 shares of the company’s stock worth $3,341,000 after acquiring an additional 77 shares in the last quarter. Finally, Blueprint Investment Partners LLC boosted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 0.6% during the 3rd quarter. Blueprint Investment Partners LLC now owns 16,369 shares of the company’s stock worth $3,469,000 after acquiring an additional 90 shares in the last quarter.

Direxion Daily S&P 500 Bull 3x Shares 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. 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.