Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 6.4% – Should You Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) rose 6.4% during trading on Tuesday . The company traded as high as $325.00 and last traded at $324.45. Approximately 401,709 shares were traded during mid-day trading, a decline of 36% from the average session volume of 623,427 shares. The stock had previously closed at $304.95.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 5.4%

The firm has a 50 day simple moving average of $201.50 and a two-hundred day simple moving average of $180.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LABU. Qube Research & Technologies Ltd bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $69,000. Covestor Ltd bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at $71,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter valued at $166,000. Finally, Bank of America Corp DE raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 134.2% during the 3rd quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after buying an additional 1,419 shares during the period.

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.