Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Down 3.4% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares were down 3.4% on Tuesday . The stock traded as low as $160.55 and last traded at $159.4150. Approximately 118,793 shares were traded during trading, a decline of 92% from the average daily volume of 1,427,443 shares. The stock had previously closed at $165.09.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 4.7%

The stock’s 50-day simple moving average is $145.79 and its 200 day simple moving average is $99.67.

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

Hedge funds have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 68.7% in the 3rd 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 period. Spire Wealth Management grew its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 46.3% in the 2nd quarter. Spire Wealth Management now owns 1,106 shares of the company’s stock valued at $63,000 after buying an additional 350 shares during the period. Headlands Technologies LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at about $69,000. Finally, Bank of America Corp DE boosted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 134.2% in the third quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after acquiring an additional 1,419 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.