Direxion SPXL ETF Sees Significant Inflow This Week
In today’s review of week-over-week changes in shares outstanding among ETFs, the Direxion Daily S&P 500 Bull 3X (Symbol: SPXL) has garnered attention. During this period, SPXL experienced an inflow of approximately $381.5 million, leading to an 11.1% increase in the outstanding units—from 28,850,001 to 32,050,001. This notable rise highlights investor interest in the ETF.
Performance Insights on SPXL Holdings
Among the key holdings within SPXL, notable performance today includes Philip Morris International Inc (Symbol: PM), which is up about 0.6%. Conversely, Abbott Laboratories (Symbol: ABT) has declined by about 0.8%, and McDonald’s Corp (Symbol: MCD) has decreased by roughly 0.5%. For a complete overview of the components, please visit the SPXL Holdings page.
Price Performance and Technical Analysis
The chart below illustrates the one-year price performance of SPXL compared to its 200-day moving average:
Currently, SPXL’s lowest point over the past 52 weeks is $87.08, while the highest point reached $190.34. The latest trade price stands at $119.20. Analyzing the current share price against the 200-day moving average can provide further insights. For more information, visit this link.
Understanding ETF Trading Mechanics
Exchange-traded funds (ETFs) function similarly to stocks, but investors buy and sell “units” instead of traditional shares. These units can be traded actively, yet they can also be created or destroyed based on investor demand. Each week, we observe the changes in shares outstanding to identify ETFs that experience significant inflows or outflows. When new units are created, the underlying assets must be purchased, whereas when units are destroyed, the holdings are sold. Large flows can thus influence the individual components held within ETFs.
Click here to discover which 9 other ETFs had notable inflows.
Further Exploration
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
