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

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $242.30 and last traded at $241.40, with a volume of 1208498 shares trading hands. The stock had previously closed at $236.62.

Direxion Daily S&P 500 Bull 3x Shares Trading Up 2.2%

The company has a market cap of $5.74 billion, a price-to-earnings ratio of 25.10 and a beta of 3.01. The business has a fifty day moving average of $208.92 and a two-hundred day moving average of $216.53.

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

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Direxion Daily S&P 500 Bull 3x Shares by 389.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 125,668 shares of the company’s stock worth $17,643,000 after buying an additional 100,000 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 58.0% in the fourth quarter. Virtu Financial LLC now owns 55,957 shares of the company’s stock worth $12,344,000 after acquiring an additional 20,544 shares during the last quarter. Optiver Holding B.V. boosted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 34.9% in the third quarter. Optiver Holding B.V. now owns 48,711 shares of the company’s stock worth $10,322,000 after acquiring an additional 12,606 shares during the last quarter. Traynor Capital Management Inc. increased its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 2.5% during the fourth quarter. Traynor Capital Management Inc. now owns 46,872 shares of the company’s stock worth $10,340,000 after purchasing an additional 1,148 shares in the last quarter. Finally, Group One Trading LLC raised its stake in Direxion Daily S&P 500 Bull 3x Shares by 1,181.5% in the 2nd quarter. Group One Trading LLC now owns 45,492 shares of the company’s stock valued at $7,894,000 after purchasing an additional 41,942 shares during 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.