Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down to $89.40

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) gapped down before the market opened on Thursday . The stock had previously closed at $89.40, but opened at $84.45. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $82.96, with a volume of 1,345,257 shares trading hands.

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

The company’s 50-day simple moving average is $125.67 and its 200 day simple moving average is $104.90.

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

Several institutional investors have recently made changes to their positions in LABU. Tower Research Capital LLC TRC lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 49,146.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 352,111 shares of the company’s stock worth $1,342,000 after acquiring an additional 351,396 shares during the last quarter. Simplex Trading LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $949,000. Second Half Financial Partners LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $846,000. Pathstone Family Office LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $439,000. Finally, Quantbot Technologies LP bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $293,000.

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.