Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Reaches New 12-Month High – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $292.64 and last traded at $291.68, with a volume of 621039 shares changing hands. The stock had previously closed at $276.16.

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

The stock has a 50-day moving average price of $195.18 and a 200 day moving average price of $177.15.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Large investors have recently added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares during the first quarter valued at $166,000. Barclays PLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth about $893,000. Renaissance Technologies LLC raised its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock worth $3,650,000 after purchasing an additional 2,200 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $797,000. Finally, SLT Holdings LLC purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $797,000.

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.