Summit Financial Strategies Inc. Increases Stock Holdings in Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)

Summit Financial Strategies Inc. raised its position in Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,285 shares of the company’s stock after buying an additional 209 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Direxion Daily S&P 500 Bull 3X were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Kelly Financial Services LLC raised its stake in shares of Direxion Daily S&P 500 Bull 3X by 1.4% during the 3rd quarter. Kelly Financial Services LLC now owns 5,804 shares of the company’s stock valued at $952,000 after purchasing an additional 79 shares during the period. NovaPoint Capital LLC boosted its holdings in Direxion Daily S&P 500 Bull 3X by 7.5% during the 2nd quarter. NovaPoint Capital LLC now owns 1,701 shares of the company’s stock valued at $248,000 after acquiring an additional 119 shares during the period. PayPay Securities Corp boosted its holdings in Direxion Daily S&P 500 Bull 3X by 24.0% during the 1st quarter. PayPay Securities Corp now owns 1,259 shares of the company’s stock valued at $169,000 after acquiring an additional 244 shares during the period. Mather Group LLC. purchased a new stake in Direxion Daily S&P 500 Bull 3X during the 1st quarter valued at about $36,000. Finally, Westend Capital Management LLC purchased a new stake in Direxion Daily S&P 500 Bull 3X during the 1st quarter valued at about $37,000.

Direxion Daily S&P 500 Bull 3X Price Performance

SPXL traded up $0.71 during midday trading on Thursday, reaching $170.66. 1,074,737 shares of the company’s stock traded hands, compared to its average volume of 5,304,026. The firm has a fifty day moving average of $154.12 and a two-hundred day moving average of $142.78. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 33.36 and a beta of 2.99. Direxion Daily S&P 500 Bull 3X has a 52 week low of $67.60 and a 52 week high of $173.26.

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.