Independence Bank of Kentucky Lowers Stake in Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL)

Independence Bank of Kentucky lowered its stake in shares of Direxion Daily S&P 500 Bull 3X (NYSEARCA:SPXL) by 27.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,225 shares of the company’s stock after selling 475 shares during the period. Independence Bank of Kentucky’s holdings in Direxion Daily S&P 500 Bull 3X were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SPXL. Pineridge Advisors LLC purchased a new position in Direxion Daily S&P 500 Bull 3X in the 4th quarter valued at approximately $35,000. Mather Group LLC. purchased a new position in Direxion Daily S&P 500 Bull 3X in the 1st quarter valued at approximately $36,000. Westend Capital Management LLC purchased a new position in Direxion Daily S&P 500 Bull 3X in the 1st quarter valued at approximately $37,000. Spartan Planning & Wealth Management purchased a new position in Direxion Daily S&P 500 Bull 3X in the 4th quarter valued at approximately $46,000. Finally, VitalStone Financial LLC purchased a new position in Direxion Daily S&P 500 Bull 3X in the 4th quarter valued at approximately $80,000.

Direxion Daily S&P 500 Bull 3X Price Performance

Shares of Direxion Daily S&P 500 Bull 3X stock traded down $1.86 during trading on Friday, hitting $146.07. 3,460,721 shares of the stock were exchanged, compared to its average volume of 6,095,813. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 33.36 and a beta of 2.99. The firm’s 50-day moving average price is $134.17 and its 200 day moving average price is $122.51. Direxion Daily S&P 500 Bull 3X has a 12-month low of $67.60 and a 12-month high of $151.00.

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.