Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL) Shares Cross Below 200-Day Moving Average – Time to Sell?

Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $255.86 and traded as low as $244.29. Direxion Daily S&P 500 Bull 3X ETF shares last traded at $244.98, with a volume of 5,103,603 shares.

Direxion Daily S&P 500 Bull 3X ETF Trading Up 0.7%

The company has a fifty day simple moving average of $283.79 and a 200-day simple moving average of $256.02. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 25.10 and a beta of 3.02.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SPXL. Silverleafe Capital Partners LLC acquired a new position in Direxion Daily S&P 500 Bull 3X ETF in the 3rd quarter worth approximately $490,000. Succession Financial Inc. acquired a new stake in Direxion Daily S&P 500 Bull 3X ETF during the 2nd quarter valued at $39,344,000. J. Safra Sarasin Holding AG raised its stake in Direxion Daily S&P 500 Bull 3X ETF by 82.0% during the 1st quarter. J. Safra Sarasin Holding AG now owns 36,400 shares of the company’s stock valued at $6,730,000 after purchasing an additional 16,400 shares during the period. Insight Wealth Partners LLC raised its stake in Direxion Daily S&P 500 Bull 3X ETF by 78.8% during the 2nd quarter. Insight Wealth Partners LLC now owns 176,249 shares of the company’s stock valued at $47,705,000 after purchasing an additional 77,660 shares during the period. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Direxion Daily S&P 500 Bull 3X ETF in the third quarter valued at $1,489,000.

About Direxion Daily S&P 500 Bull 3X ETF

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.