Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Trading Down 8.6% – Should You Sell?

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)’s share price traded down 8.6% during trading on Wednesday . The stock traded as low as $107.89 and last traded at $108.09. 6,254,825 shares were traded during trading, an increase of 44% from the average session volume of 4,344,947 shares. The stock had previously closed at $118.29.

Direxion Daily S&P 500 Bull 3X Stock Performance

The stock has a fifty day simple moving average of $146.76 and a two-hundred day simple moving average of $165.25. The stock has a market cap of $3.18 billion, a PE ratio of 22.84 and a beta of 3.03.

Institutional Trading of Direxion Daily S&P 500 Bull 3X

Several large investors have recently modified their holdings of SPXL. Bank of America Corp DE grew its stake in Direxion Daily S&P 500 Bull 3X 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 purchasing an additional 60 shares in the last quarter. Cresset Asset Management LLC raised its holdings in Direxion Daily S&P 500 Bull 3X by 4.8% in the fourth quarter. Cresset Asset Management LLC now owns 3,210 shares of the company’s stock valued at $542,000 after acquiring an additional 146 shares in the last quarter. Trinity Legacy Partners LLC boosted its stake in Direxion Daily S&P 500 Bull 3X by 14.0% during the 4th quarter. Trinity Legacy Partners LLC now owns 1,480 shares of the company’s stock valued at $250,000 after acquiring an additional 182 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in Direxion Daily S&P 500 Bull 3X during the 1st quarter worth $28,000. Finally, PayPay Securities Corp increased its position in shares of Direxion Daily S&P 500 Bull 3X by 55.4% in the 4th quarter. PayPay Securities Corp now owns 564 shares of the company’s stock worth $95,000 after purchasing an additional 201 shares during the last quarter.

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.