Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 7.3% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares rose 7.3% during mid-day trading on Tuesday . The company traded as high as $55.86 and last traded at $55.71. Approximately 1,670,015 shares changed hands during trading, a decline of 4% from the average daily volume of 1,731,942 shares. The stock had previously closed at $51.93.

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

The company’s 50-day simple moving average is $56.23 and its 200-day simple moving average is $84.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Spire Wealth Management purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth about $68,000. SBI Securities Co. Ltd. raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 10.9% during the first quarter. SBI Securities Co. Ltd. now owns 3,003 shares of the company’s stock worth $183,000 after acquiring an additional 295 shares during the last quarter. SG Americas Securities LLC raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 6.0% during the fourth quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after acquiring an additional 193 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the first quarter valued at about $313,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at approximately $323,000.

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.