Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report)’s share price dropped 9% during mid-day trading on Friday . The stock traded as low as $222.27 and last traded at $226.34. Approximately 193,849 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 595,474 shares. The stock had previously closed at $248.79.
Direxion Daily S&P Biotech Bull 3x Shares Price Performance
The business has a 50-day simple moving average of $232.89 and a two-hundred day simple moving average of $193.31.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of LABU. Tower Research Capital LLC TRC lifted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 664.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock valued at $5,445,000 after acquiring an additional 50,564 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 33.2% during the second quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock valued at $9,171,000 after purchasing an additional 40,157 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth approximately $3,208,000. Virtu Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth approximately $1,757,000. Finally, Barclays PLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth approximately $893,000.
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.
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