Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 9.7%

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price traded up 9.7% during mid-day trading on Thursday . The stock traded as high as $149.50 and last traded at $149.11. 899,399 shares changed hands during trading, a decline of 64% from the average session volume of 2,473,246 shares. The stock had previously closed at $135.95.

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

The stock has a 50 day moving average price of $116.16 and a 200 day moving average price of $119.47.

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

Large investors have recently modified their holdings of the stock. TB Alternative Assets Ltd. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the first quarter valued at $10,180,000. Tidal Investments LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter worth about $1,858,000. Gainplan LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the first quarter valued at about $664,000. Traynor Capital Management Inc. boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 73.8% during the second quarter. Traynor Capital Management Inc. now owns 10,089 shares of the company’s stock worth $1,144,000 after purchasing an additional 4,285 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth about $521,000.

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.