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

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

Direxion Daily S&P 500 Bull 3X Price Performance

The company has a market cap of $5.88 billion, a PE ratio of 33.36 and a beta of 2.99. The company’s 50 day simple moving average is $169.23 and its two-hundred day simple moving average is $153.31.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Direxion Daily S&P 500 Bull 3X during the second quarter worth about $80,000. Larson Financial Group LLC increased its stake in Direxion Daily S&P 500 Bull 3X by 358.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,188 shares of the company’s stock worth $195,000 after buying an additional 929 shares during the period. Wealthspire Advisors LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X during the 2nd quarter worth approximately $205,000. Brookstone Capital Management purchased a new position in Direxion Daily S&P 500 Bull 3X in the 3rd quarter valued at approximately $205,000. Finally, First Western Trust Bank acquired a new position in shares of Direxion Daily S&P 500 Bull 3X in the second quarter worth $218,000.

Direxion Daily S&P 500 Bull 3X Company Profile

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.