Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $286.70 and traded as high as $290.17. Direxion Daily S&P 500 Bull 3X ETF shares last traded at $288.95, with a volume of 1,162,465 shares traded.

Direxion Daily S&P 500 Bull 3X ETF Price Performance

The company has a 50-day simple moving average of $286.70 and a two-hundred day simple moving average of $254.69. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 25.10 and a beta of 3.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Insight Wealth Partners LLC grew its holdings in Direxion Daily S&P 500 Bull 3X ETF by 78.8% in the 2nd quarter. Insight Wealth Partners LLC now owns 176,249 shares of the company’s stock worth $47,705,000 after buying an additional 77,660 shares in the last quarter. Succession Financial Inc. acquired a new stake in Direxion Daily S&P 500 Bull 3X ETF in the 2nd quarter valued at approximately $39,344,000. Gainplan LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X ETF in the 2nd quarter valued at approximately $10,055,000. J. Safra Sarasin Holding AG raised its stake in Direxion Daily S&P 500 Bull 3X ETF by 82.0% during the 1st quarter. J. Safra Sarasin Holding AG now owns 36,400 shares of the company’s stock valued at $6,730,000 after acquiring an additional 16,400 shares in the last quarter. Finally, Optiver Holding B.V. raised its stake in Direxion Daily S&P 500 Bull 3X ETF by 88.1% during the 1st quarter. Optiver Holding B.V. now owns 31,380 shares of the company’s stock valued at $5,802,000 after acquiring an additional 14,700 shares in the last quarter.

About Direxion Daily S&P 500 Bull 3X ETF

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.