Westwood Wealth Management Trims Position in Direxion Daily S&P 500 Bull 3x Shares $SPXL

Westwood Wealth Management reduced its stake in shares of Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 32,875 shares of the company’s stock after selling 600 shares during the quarter. Direxion Daily S&P 500 Bull 3x Shares comprises 2.0% of Westwood Wealth Management’s portfolio, making the stock its 10th biggest holding. Westwood Wealth Management’s holdings in Direxion Daily S&P 500 Bull 3x Shares were worth $4,615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Direxion Daily S&P 500 Bull 3x Shares during the first quarter valued at about $28,000. Beacon Capital Management LLC grew its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 169.1% during the first quarter. Beacon Capital Management LLC now owns 296 shares of the company’s stock valued at $42,000 after buying an additional 186 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Direxion Daily S&P 500 Bull 3x Shares during the fourth quarter valued at about $51,000. Bank of America Corp DE boosted its holdings in shares of Direxion Daily S&P 500 Bull 3x Shares by 14.6% during the fourth quarter. Bank of America Corp DE now owns 472 shares of the company’s stock worth $80,000 after purchasing an additional 60 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Direxion Daily S&P 500 Bull 3x Shares by 57.5% during the first quarter. IFP Advisors Inc now owns 630 shares of the company’s stock worth $88,000 after purchasing an additional 230 shares during the period.

Direxion Daily S&P 500 Bull 3x Shares Trading Up 4.5%

Direxion Daily S&P 500 Bull 3x Shares stock opened at $193.59 on Friday. The firm has a 50-day moving average of $178.87 and a 200-day moving average of $157.59. The firm has a market cap of $5.67 billion, a P/E ratio of 25.10 and a beta of 3.08. Direxion Daily S&P 500 Bull 3x Shares has a 1-year low of $87.08 and a 1-year high of $195.28.

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.