Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Down 5.3% – Time to Sell?

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) traded down 5.3% on Tuesday . The stock traded as low as $72.68 and last traded at $71.05. 224,192 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,300,976 shares. The stock had previously closed at $75.01.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 5.7 %

The firm’s 50 day moving average is $88.35 and its two-hundred day moving average is $109.98.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at $9,012,000. Virtu Financial LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth about $3,043,000. Tower Research Capital LLC TRC lifted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 177.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 27,048 shares of the company’s stock worth $2,434,000 after acquiring an additional 17,315 shares in the last quarter. Bank of America Corp DE lifted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% in the 4th quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock worth $1,323,000 after acquiring an additional 14,098 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 129.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock worth $625,000 after acquiring an additional 2,735 shares in the last quarter.

About Direxion Daily S&P Biotech Bull 3x Shares

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.