Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Sets New 1-Year Low – Should You Sell?

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)’s stock price hit a new 52-week low on Friday . The company traded as low as $109.35 and last traded at $108.48, with a volume of 3757252 shares traded. The stock had previously closed at $123.82.

Direxion Daily S&P 500 Bull 3X Trading Down 18.0 %

The company’s 50 day simple moving average is $162.03 and its 200-day simple moving average is $169.12. The firm has a market cap of $2.92 billion, a P/E ratio of 22.84 and a beta of 3.03.

Direxion Daily S&P 500 Bull 3X Increases Dividend

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

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

Large investors have recently added to or reduced their stakes in the stock. PPSC Investment Service Corp boosted its stake in shares of Direxion Daily S&P 500 Bull 3X by 1.2% in the 4th quarter. PPSC Investment Service Corp now owns 2,541,446 shares of the company’s stock worth $428,742,000 after buying an additional 29,486 shares during the last quarter. Howard Capital Management Inc. lifted its holdings in Direxion Daily S&P 500 Bull 3X by 16.6% in the fourth quarter. Howard Capital Management Inc. now owns 2,418,951 shares of the company’s stock valued at $408,077,000 after acquiring an additional 344,346 shares during the period. Wealthstar Advisors LLC purchased a new position in Direxion Daily S&P 500 Bull 3X in the fourth quarter worth about $50,038,000. SBI Securities Co. Ltd. bought a new stake in shares of Direxion Daily S&P 500 Bull 3X during the 4th quarter valued at about $24,552,000. Finally, Gainplan LLC increased 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 valued at $10,572,000 after purchasing an additional 45,966 shares during the last quarter.

About Direxion Daily S&P 500 Bull 3X

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.