Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Reaches New 12-Month High – Time to Buy?

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $279.47 and last traded at $279.37, with a volume of 544313 shares trading hands. The stock had previously closed at $273.08.

Direxion Daily S&P 500 Bull 3x Shares Stock Up 1.6%

The firm’s 50-day simple moving average is $226.58 and its 200-day simple moving average is $222.78. The firm has a market capitalization of $6.67 billion, a PE ratio of 25.10 and a beta of 3.02.

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

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 389.6% during the first quarter. Goldman Sachs Group Inc. now owns 125,668 shares of the company’s stock valued at $17,643,000 after purchasing an additional 100,000 shares during the period. Virtu Financial LLC raised its position in Direxion Daily S&P 500 Bull 3x Shares by 58.0% during the 4th quarter. Virtu Financial LLC now owns 55,957 shares of the company’s stock valued at $12,344,000 after purchasing an additional 20,544 shares during the last quarter. Optiver Holding B.V. raised its position in Direxion Daily S&P 500 Bull 3x Shares by 34.9% during the 3rd quarter. Optiver Holding B.V. now owns 48,711 shares of the company’s stock valued at $10,322,000 after purchasing an additional 12,606 shares during the last quarter. Traynor Capital Management Inc. raised its position in Direxion Daily S&P 500 Bull 3x Shares by 2.5% during the 4th quarter. Traynor Capital Management Inc. now owns 46,872 shares of the company’s stock valued at $10,340,000 after purchasing an additional 1,148 shares during the last quarter. Finally, Group One Trading LLC raised its position in Direxion Daily S&P 500 Bull 3x Shares by 1,181.5% during the 2nd quarter. Group One Trading LLC now owns 45,492 shares of the company’s stock valued at $7,894,000 after purchasing an additional 41,942 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.