Traders Purchase Large Volume of Direxion Daily S&P Biotech Bear 3x Shares Put Options (NYSEARCA:LABD)

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 3,345 put options on the stock. This represents an increase of approximately 84% compared to the typical daily volume of 1,814 put options.

Direxion Daily S&P Biotech Bear 3x Shares Stock Down 2.5%

Shares of Direxion Daily S&P Biotech Bear 3x Shares stock traded down $0.19 during trading hours on Monday, reaching $7.38. The company’s stock had a trading volume of 3,764,081 shares, compared to its average volume of 6,749,079. The stock’s fifty day simple moving average is $9.13 and its two-hundred day simple moving average is $13.92. Direxion Daily S&P Biotech Bear 3x Shares has a one year low of $6.68 and a one year high of $60.90.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Simplex Trading LLC bought a new position in Direxion Daily S&P Biotech Bear 3x Shares in the 4th quarter valued at about $48,000. JPMorgan Chase & Co. increased its holdings in Direxion Daily S&P Biotech Bear 3x Shares by 655.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,803 shares of the company’s stock worth $275,000 after purchasing an additional 5,903 shares in the last quarter. Scientech Research LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares in the third quarter worth approximately $290,000. Envestnet Asset Management Inc. purchased a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares in the second quarter worth approximately $84,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares in the fourth quarter worth approximately $245,000.

About Direxion Daily S&P Biotech Bear 3x Shares

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