Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Sets New 52-Week Low – What’s Next?

Shares of Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $109.35 and last traded at $108.48, with a volume of 3757252 shares changing hands. The stock had previously closed at $123.82.

Direxion Daily S&P 500 Bull 3X Stock Performance

The stock has a market capitalization of $2.92 billion, a P/E ratio of 22.84 and a beta of 3.03. The business has a 50-day moving average price of $162.03 and a 200 day moving average price of $169.12.

Direxion Daily S&P 500 Bull 3X Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a $0.4935 dividend. This is an increase from Direxion Daily S&P 500 Bull 3X’s previous dividend of $0.19. The ex-dividend date was Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bull 3X

Several institutional investors and hedge funds have recently modified their holdings of SPXL. HighTower Advisors LLC grew its position in Direxion Daily S&P 500 Bull 3X by 1.3% during the 3rd quarter. HighTower Advisors LLC now owns 5,722 shares of the company’s stock valued at $939,000 after purchasing an additional 76 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Direxion Daily S&P 500 Bull 3X by 7.1% during the third quarter. EP Wealth Advisors LLC now owns 3,864 shares of the company’s stock valued at $634,000 after buying an additional 256 shares during the last quarter. Discipline Wealth Solutions LLC bought a new stake in shares of Direxion Daily S&P 500 Bull 3X during the third quarter valued at approximately $466,000. JPMorgan Chase & Co. raised its holdings in Direxion Daily S&P 500 Bull 3X by 49.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,220 shares of the company’s stock worth $2,659,000 after acquiring an additional 5,399 shares during the last quarter. Finally, Silverleafe Capital Partners LLC lifted its position in Direxion Daily S&P 500 Bull 3X by 149.3% in the 4th quarter. Silverleafe Capital Partners LLC now owns 3,724 shares of the company’s stock valued at $628,000 after acquiring an additional 2,230 shares in 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.