Summit Financial Strategies Inc. Purchases 209 Shares of Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PPSC Investment Service Corp increased its position in shares of Direxion Daily S&P 500 Bull 3X by 2.0% during the second quarter. PPSC Investment Service Corp now owns 2,486,325 shares of the company’s stock worth $363,177,000 after purchasing an additional 49,725 shares in the last quarter. IMC Chicago LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 3X during the first quarter worth $53,754,000. Flow Traders U.S. LLC increased its position in shares of Direxion Daily S&P 500 Bull 3X by 709.8% during the first quarter. Flow Traders U.S. LLC now owns 60,795 shares of the company’s stock worth $8,148,000 after purchasing an additional 53,288 shares in the last quarter. Hollencrest Capital Management increased its position in shares of Direxion Daily S&P 500 Bull 3X by 1.2% during the second quarter. Hollencrest Capital Management now owns 52,216 shares of the company’s stock worth $7,627,000 after purchasing an additional 613 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 3X during the second quarter worth $6,555,000.

Direxion Daily S&P 500 Bull 3X Trading Up 0.4 %

Shares of SPXL stock traded up $0.71 during trading hours on Thursday, reaching $170.66. 1,074,737 shares of the company’s stock were exchanged, compared to its average volume of 5,304,026. The stock’s 50 day moving average is $154.12 and its 200-day moving average is $142.78. The company has a market cap 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 fifty-two week low of $67.60 and a fifty-two week high of $173.26.

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.