Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Hits New 1-Year High – Should You Buy?

Shares of Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) reached a new 52-week high during trading on Friday . The company traded as high as $236.31 and last traded at $235.45, with a volume of 803889 shares. The stock had previously closed at $230.62.

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

The stock has a market cap of $5.83 billion, a P/E ratio of 25.10 and a beta of 3.01. The business’s fifty day moving average price is $207.97 and its 200 day moving average price is $215.92.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPXL. Bank of America Corp DE raised its holdings in Direxion Daily S&P 500 Bull 3x Shares by 14.6% in the 4th quarter. Bank of America Corp DE now owns 472 shares of the company’s stock valued at $80,000 after buying an additional 60 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Direxion Daily S&P 500 Bull 3x Shares by 389.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 125,668 shares of the company’s stock valued at $17,643,000 after buying an additional 100,000 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Direxion Daily S&P 500 Bull 3x Shares in the 2nd quarter valued at approximately $3,932,000. Cresset Asset Management LLC raised its holdings in Direxion Daily S&P 500 Bull 3x Shares by 7.0% in the 2nd quarter. Cresset Asset Management LLC now owns 3,435 shares of the company’s stock valued at $598,000 after buying an additional 225 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in Direxion Daily S&P 500 Bull 3x Shares by 36.7% in the 2nd quarter. Cerity Partners LLC now owns 2,795 shares of the company’s stock valued at $485,000 after buying an additional 751 shares during the last quarter.

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.