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 hit a new 52-week high on Friday . The stock traded as high as $236.31 and last traded at $235.45, with a volume of 803889 shares trading hands. The stock had previously closed at $230.62.

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

The company has a fifty day simple moving average of $207.71 and a two-hundred day simple moving average of $215.69. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 25.10 and a beta of 3.01.

Institutional Trading of Direxion Daily S&P 500 Bull 3x Shares

Institutional investors and hedge funds have recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Direxion Daily S&P 500 Bull 3x Shares during the 3rd quarter worth $26,000. Newbridge Financial Services Group Inc. boosted its position in Direxion Daily S&P 500 Bull 3x Shares by 384.4% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 155 shares of the company’s stock worth $33,000 after purchasing an additional 123 shares during the period. Quattro Advisors LLC purchased a new stake in Direxion Daily S&P 500 Bull 3x Shares during the 4th quarter worth $64,000. Bank of America Corp DE boosted its position in 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 purchasing an additional 60 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Direxion Daily S&P 500 Bull 3x Shares by 223.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 834 shares of the company’s stock worth $184,000 after purchasing an additional 576 shares during the period.

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.