Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) saw an uptick in trading volume on Friday . 4,634,813 shares traded hands during mid-day trading, a decline of 2% from the previous session’s volume of 4,709,137 shares.The stock last traded at $163.44 and had previously closed at $170.97.

Direxion Daily S&P 500 Bull 3X Stock Performance

The business’s 50 day moving average price is $177.86 and its 200-day moving average price is $161.85. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 33.36 and a beta of 2.99.

Institutional Trading of Direxion Daily S&P 500 Bull 3X

Large investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its stake in Direxion Daily S&P 500 Bull 3X by 5.5% in the third quarter. Private Advisor Group LLC now owns 1,447 shares of the company’s stock worth $237,000 after purchasing an additional 75 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Direxion Daily S&P 500 Bull 3X by 1.3% in the third quarter. HighTower Advisors LLC now owns 5,722 shares of the company’s stock valued at $939,000 after buying an additional 76 shares during the last quarter. Kelly Financial Services LLC grew its holdings in Direxion Daily S&P 500 Bull 3X by 1.4% during the 3rd quarter. Kelly Financial Services LLC now owns 5,804 shares of the company’s stock worth $952,000 after acquiring an additional 79 shares during the last quarter. Summit Financial Strategies Inc. increased its position in Direxion Daily S&P 500 Bull 3X by 6.8% in the 3rd quarter. Summit Financial Strategies Inc. now owns 3,285 shares of the company’s stock valued at $539,000 after acquiring an additional 209 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Direxion Daily S&P 500 Bull 3X by 7.1% in the third quarter. EP Wealth Advisors LLC now owns 3,864 shares of the company’s stock worth $634,000 after acquiring an additional 256 shares during the last quarter.

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.