Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading 3.7% Higher – Here’s What Happened

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) rose 3.7% during trading on Wednesday . The stock traded as high as $55.61 and last traded at $56.36. Approximately 279,418 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,419,195 shares. The stock had previously closed at $54.33.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 9.8 %

The stock’s 50-day moving average is $82.14 and its two-hundred day moving average is $103.16.

Direxion Daily S&P Biotech Bull 3x Shares Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a dividend of $0.1071 per share. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares

Several hedge funds have recently made changes to their positions in LABU. Dunhill Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $46,000. Spire Wealth Management acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $68,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth approximately $279,000. SBI Securities Co. Ltd. acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at approximately $244,000. Finally, SG Americas Securities LLC lifted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in 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.

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.