PPSC Investment Service Corp Sells 65,416 Shares of Direxion Daily S&P 500 Bull 3x Shares $SPXL

PPSC Investment Service Corp reduced its stake in Direxion Daily S&P 500 Bull 3x Shares (NYSEARCA:SPXL) by 2.5% in the third quarter, HoldingsChannel.com reports. The fund owned 2,584,272 shares of the company’s stock after selling 65,416 shares during the quarter. Direxion Daily S&P 500 Bull 3x Shares accounts for 43.4% of PPSC Investment Service Corp’s portfolio, making the stock its biggest position. PPSC Investment Service Corp owned about 0.10% of Direxion Daily S&P 500 Bull 3x Shares worth $547,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in SPXL. Howard Capital Management Inc. bought a new stake in shares of Direxion Daily S&P 500 Bull 3x Shares in the 2nd quarter worth approximately $293,145,000. Wealthstar Advisors LLC lifted its stake in Direxion Daily S&P 500 Bull 3x Shares by 62.7% in the second quarter. Wealthstar Advisors LLC now owns 481,825 shares of the company’s stock valued at $83,611,000 after buying an additional 185,713 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Direxion Daily S&P 500 Bull 3x Shares by 389.6% in the first quarter. Goldman Sachs Group Inc. now owns 125,668 shares of the company’s stock valued at $17,643,000 after buying an additional 100,000 shares during the last quarter. Insight Wealth Partners LLC grew its position in shares of Direxion Daily S&P 500 Bull 3x Shares by 346.4% during the second quarter. Insight Wealth Partners LLC now owns 115,614 shares of the company’s stock worth $20,062,000 after acquiring an additional 89,717 shares during the last quarter. Finally, Gainplan LLC acquired a new stake in shares of Direxion Daily S&P 500 Bull 3x Shares in the 2nd quarter worth about $13,916,000.

Direxion Daily S&P 500 Bull 3x Shares Trading Down 2.2%

NYSEARCA SPXL opened at $220.61 on Friday. The company has a 50-day moving average price of $219.52 and a two-hundred day moving average price of $201.05. Direxion Daily S&P 500 Bull 3x Shares has a 52 week low of $87.08 and a 52 week high of $232.19. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 25.10 and a beta of 3.03.

About Direxion Daily S&P 500 Bull 3x Shares

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. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.