Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Direxion Daily S&P 500 Bull 3X ETF (NYSEARCA:SPXL)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $255.86 and traded as low as $244.29. Direxion Daily S&P 500 Bull 3X ETF shares last traded at $244.98, with a volume of 5,103,603 shares changing hands.

Direxion Daily S&P 500 Bull 3X ETF Price Performance

The business has a 50-day simple moving average of $284.70 and a 200 day simple moving average of $255.86. The firm has a market cap of $6.04 billion, a PE ratio of 25.10 and a beta of 3.02.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC increased its holdings in Direxion Daily S&P 500 Bull 3X ETF by 52.2% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 2,399 shares of the company’s stock worth $674,000 after acquiring an additional 823 shares in the last quarter. Signaturefd LLC bought a new stake in Direxion Daily S&P 500 Bull 3X ETF during the 3rd quarter worth approximately $50,000. Citizens Financial Group Inc. RI purchased a new position in Direxion Daily S&P 500 Bull 3X ETF during the third quarter valued at approximately $1,489,000. Capital Investment Advisors LLC purchased a new position in Direxion Daily S&P 500 Bull 3X ETF during the third quarter valued at approximately $221,000. Finally, Ramsey Quantitative Systems purchased a new position in Direxion Daily S&P 500 Bull 3X ETF during the third quarter valued at approximately $174,000.

Direxion Daily S&P 500 Bull 3X ETF 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.