Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Hits New 52-Week High – What’s Next?

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)’s stock price reached a new 52-week high on Friday . The stock traded as high as $184.28 and last traded at $184.17, with a volume of 762574 shares traded. The stock had previously closed at $181.42.

Direxion Daily S&P 500 Bull 3X Stock Up 1.8 %

The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 33.36 and a beta of 2.99. The business’s 50-day moving average is $169.23 and its two-hundred day moving average is $153.31.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bull 3X

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IMC Chicago LLC acquired a new position in Direxion Daily S&P 500 Bull 3X in the 3rd quarter valued at about $57,721,000. Quadrature Capital Ltd acquired a new position in Direxion Daily S&P 500 Bull 3X in the third quarter valued at approximately $29,479,000. PPSC Investment Service Corp grew its position in Direxion Daily S&P 500 Bull 3X by 2.0% in the second quarter. PPSC Investment Service Corp now owns 2,486,325 shares of the company’s stock worth $363,177,000 after acquiring an additional 49,725 shares during the period. Virtu Financial LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X during the second quarter worth $6,555,000. Finally, Flow Traders U.S. LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X during the third quarter worth $5,453,000.

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.