Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) Short Interest Up 29.7% in March

Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,622,689 shares, an increase of 29.7% from the February 26th total of 1,251,081 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average trading volume of 4,337,885 shares, the short-interest ratio is currently 0.4 days.

Direxion Daily S&P 500 Bull 3x Shares Stock Down 1.1%

Direxion Daily S&P 500 Bull 3x Shares stock traded down $1.85 during trading on Monday, hitting $170.20. The stock had a trading volume of 3,776,506 shares, compared to its average volume of 3,257,580. The stock’s 50 day moving average is $213.06 and its two-hundred day moving average is $216.04. Direxion Daily S&P 500 Bull 3x Shares has a 1 year low of $87.08 and a 1 year high of $234.09. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 25.10 and a beta of 3.03.

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

Large investors have recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new stake in Direxion Daily S&P 500 Bull 3x Shares during the third quarter valued at about $26,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Direxion Daily S&P 500 Bull 3x Shares by 384.4% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 155 shares of the company’s stock valued at $33,000 after buying an additional 123 shares in the last quarter. Quattro Advisors LLC purchased a new position in Direxion Daily S&P 500 Bull 3x Shares in the 4th quarter valued at approximately $64,000. Anchor Investment Management LLC bought a new stake in Direxion Daily S&P 500 Bull 3x Shares during the 2nd quarter valued at $52,000. Finally, Bank of America Corp DE lifted its position 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 acquiring an additional 60 shares in the last quarter.

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. 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.