Direxion Daily S&P 500 High Beta Bull 3X Shares [HIBL] Stock Forecast

HIBL provides 3x 1-day returns of the S&P 500 High Beta Index. Daily rebalancing of exposures can introduce significant tracking errors over the long run. The HIBL is really just a technology fund in disguise, as 45% of the underlying index is invested in the technology sector.

Once upon a time, dividends played a starring role in equity markets—until 14 years of easy money whetted investors' appetite for risk and created a massive tailwind for unprofitable, long-duration growth stocks. Valuations appear to be attractive: Stocks yielding north of 2.5% are trading near their largest discount to the equity market in recent memory.

The S&P 500 Index has rebounded sharply off its previous low in October, closing up 14% on Feb. 17 since October's trough. The market could continue to rally, of course.

Wall Street was modestly upbeat last week. The S&P 500, the Dow Jones, the Nasdaq and the Russell 2000 added 2.5%, 1.8%, 4.3% and 2.4% last week, respectively.

Wall Street was mixed last week due to tepid earnings and moderate interest rate backdrop.

Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.

Wall Street staged a solid comeback at the start of 2023 that has resulted in huge demand for leveraged ETFs as investors sought to register big gains in a short span.

The Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) is an exchange-traded fund. The vehicle seeks daily investment results of 300% of the performance of the S&P 500 High Beta Index.

Top Performing Levered/Inverse ETFs Last Week These were last week's top-performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.

Top Performing Levered/Inverse ETFs Last Week These were last week's top-performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.