Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Shares Gap Down – Here’s Why

Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $176.89, but opened at $170.43. Direxion Daily S&P 500 Bull 3X shares last traded at $168.06, with a volume of 1,209,644 shares traded.

Direxion Daily S&P 500 Bull 3X Stock Down 2.8 %

The company has a 50-day moving average of $177.15 and a 200 day moving average of $160.55. The stock has a market capitalization of $5.48 billion, a PE ratio of 33.36 and a beta of 2.99.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC lifted its position in Direxion Daily S&P 500 Bull 3X by 358.7% during the third quarter. Larson Financial Group LLC now owns 1,188 shares of the company’s stock worth $195,000 after buying an additional 929 shares in the last quarter. Brookstone Capital Management acquired a new position in Direxion Daily S&P 500 Bull 3X in the third quarter valued at approximately $205,000. Wealthspire Advisors LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X during the second quarter worth $205,000. First Western Trust Bank purchased a new stake in Direxion Daily S&P 500 Bull 3X in the second quarter valued at $218,000. Finally, Trinity Legacy Partners LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 3X in the 3rd quarter valued at $223,000.

Direxion Daily S&P 500 Bull 3X 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.