Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 8.4% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) traded up 8.4% on Tuesday . The company traded as high as $131.30 and last traded at $131.5350. 682,793 shares traded hands during trading, a decline of 56% from the average session volume of 1,539,972 shares. The stock had previously closed at $121.39.

Direxion Daily S&P Biotech Bull 3x Shares Price Performance

The company has a 50 day moving average price of $101.37 and a 200 day moving average price of $74.47.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 68.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock valued at $47,000 after buying an additional 206 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 10.9% during the first quarter. SBI Securities Co. Ltd. now owns 3,003 shares of the company’s stock valued at $183,000 after buying an additional 295 shares during the last quarter. Spire Wealth Management increased its position in Direxion Daily S&P Biotech Bull 3x Shares by 46.3% in the second quarter. Spire Wealth Management now owns 1,106 shares of the company’s stock worth $63,000 after buying an additional 350 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth about $26,000. Finally, SG Americas Securities LLC lifted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 21.7% during the 2nd quarter. SG Americas Securities LLC now owns 3,561 shares of the company’s stock valued at $203,000 after buying an additional 635 shares in the last quarter.

Direxion Daily S&P Biotech Bull 3x Shares Company Profile

The Direxion Daily S&P Biotech Bull 3X Shares (LABU) is an exchange-traded fund that is based on the S&P Biotechnology Select Industry index. The fund provides daily 3 times exposure to the S&P Biotechnology Select Industry Index. LABU was launched on May 28, 2015 and is managed by Direxion.