Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Shares Gap Up – What’s Next?

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $100.75, but opened at $111.10. Direxion Daily S&P 500 Bull 3X shares last traded at $111.53, with a volume of 1,956,584 shares changing hands.

Direxion Daily S&P 500 Bull 3X Stock Performance

The firm has a fifty day simple moving average of $154.71 and a 200-day simple moving average of $167.28. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 22.84 and a beta of 3.03.

Direxion Daily S&P 500 Bull 3X Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were paid a $0.4935 dividend. The ex-dividend date was Tuesday, March 25th. This is a positive change from Direxion Daily S&P 500 Bull 3X’s previous dividend of $0.19.

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

Institutional investors have recently made changes to their positions in the company. Howard Capital Management Inc. boosted its stake in Direxion Daily S&P 500 Bull 3X by 16.6% in the 4th quarter. Howard Capital Management Inc. now owns 2,418,951 shares of the company’s stock valued at $408,077,000 after purchasing an additional 344,346 shares during the period. Wealthstar Advisors LLC bought a new position in Direxion Daily S&P 500 Bull 3X during the fourth quarter worth about $50,038,000. SBI Securities Co. Ltd. acquired a new stake in Direxion Daily S&P 500 Bull 3X in the 4th quarter worth about $24,552,000. Gainplan LLC grew its position in shares of Direxion Daily S&P 500 Bull 3X by 275.2% during the 4th quarter. Gainplan LLC now owns 62,666 shares of the company’s stock worth $10,572,000 after purchasing an additional 45,966 shares in the last quarter. Finally, Members Advisory Group LLC acquired a new stake in shares of Direxion Daily S&P 500 Bull 3X in the fourth quarter valued at approximately $5,361,000.

Direxion Daily S&P 500 Bull 3X 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.