Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) Sees Large Volume Increase – Here’s Why

Shares of Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) saw unusually-strong trading volume on Friday . Approximately 4,634,813 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 4,709,137 shares.The stock last traded at $163.44 and had previously closed at $170.97.

Direxion Daily S&P 500 Bull 3X Trading Down 5.5 %

The company has a market cap of $5.15 billion, a price-to-earnings ratio of 33.36 and a beta of 2.99. The stock has a 50 day moving average price of $177.86 and a two-hundred day moving average price of $161.85.

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

Several institutional investors have recently bought and sold shares of the company. IMC Chicago LLC acquired a new stake in Direxion Daily S&P 500 Bull 3X in the 3rd quarter valued at about $57,721,000. Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily S&P 500 Bull 3X in the third quarter valued at approximately $29,479,000. Virtu Financial LLC bought a new position in shares of Direxion Daily S&P 500 Bull 3X during the 2nd quarter worth approximately $6,555,000. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily S&P 500 Bull 3X during the 3rd quarter worth approximately $5,453,000. Finally, Smithfield Trust Co acquired a new position in shares of Direxion Daily S&P 500 Bull 3X during the 3rd quarter worth approximately $4,506,000.

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.