Smithfield Trust Co Acquires New Position in Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)

Smithfield Trust Co bought a new stake in shares of Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) during the third quarter, Holdings Channel reports. The fund bought 27,490 shares of the company’s stock, valued at approximately $4,506,000.

A number of other institutional investors have also added to or reduced their stakes in SPXL. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily S&P 500 Bull 3X during the 2nd quarter valued at about $80,000. Wealthspire Advisors LLC purchased a new position in Direxion Daily S&P 500 Bull 3X during the 2nd quarter valued at about $205,000. Brookstone Capital Management purchased a new position in Direxion Daily S&P 500 Bull 3X during the 3rd quarter valued at about $205,000. First Western Trust Bank purchased a new position in Direxion Daily S&P 500 Bull 3X during the 2nd quarter valued at about $218,000. Finally, Trinity Legacy Partners LLC purchased a new position in Direxion Daily S&P 500 Bull 3X during the 3rd quarter valued at about $223,000.

Direxion Daily S&P 500 Bull 3X Stock Performance

NYSEARCA SPXL opened at $174.50 on Thursday. The company’s 50-day simple moving average is $166.12 and its two-hundred day simple moving average is $151.28. Direxion Daily S&P 500 Bull 3X has a one year low of $90.00 and a one year high of $183.96. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 33.36 and a beta of 2.99.

About Direxion Daily S&P 500 Bull 3X

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.