Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Share Price Cross Below 50 Day Moving Average – Time to Sell?

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $269.82 and traded as low as $249.88. Direxion Daily S&P 500 Bull 3x Shares shares last traded at $250.20, with a volume of 2,543,231 shares.

Direxion Daily S&P 500 Bull 3x Shares Price Performance

The company has a market capitalization of $6.25 billion, a P/E ratio of 25.10 and a beta of 3.03. The firm’s 50-day moving average is $269.82 and its 200-day moving average is $239.41.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bull 3x Shares

A number of hedge funds have recently modified their holdings of SPXL. Newbridge Financial Services Group Inc. increased its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 384.4% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 155 shares of the company’s stock worth $33,000 after purchasing an additional 123 shares in the last quarter. Halbert Hargrove Global Advisors LLC lifted its position in Direxion Daily S&P 500 Bull 3x Shares by 54.5% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 187 shares of the company’s stock valued at $35,000 after purchasing an additional 66 shares in the last quarter. Parallel Advisors LLC lifted its position in Direxion Daily S&P 500 Bull 3x Shares by 44.4% during the first quarter. Parallel Advisors LLC now owns 325 shares of the company’s stock valued at $60,000 after purchasing an additional 100 shares in the last quarter. Quattro Advisors LLC bought a new stake in Direxion Daily S&P 500 Bull 3x Shares during the fourth quarter valued at about $64,000. Finally, Bank of America Corp DE grew its holdings in 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 valued at $80,000 after purchasing an additional 60 shares during the period.

Direxion Daily S&P 500 Bull 3x Shares 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. 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.