Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report)’s share price shot up 6.5% during mid-day trading on Tuesday . The company traded as high as $103.00 and last traded at $102.58. 363,079 shares traded hands during trading, a decline of 57% from the average session volume of 850,135 shares. The stock had previously closed at $96.31.
Direxion Daily S&P Biotech Bull 3x Shares Price Performance
The stock’s 50 day moving average price is $112.90 and its two-hundred day moving average price is $122.62.
Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares
Several large investors have recently made changes to their positions in LABU. Tidal Investments LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth approximately $9,012,000. Bank of New York Mellon Corp bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $596,000. JPMorgan Chase & Co. raised its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock valued at $625,000 after buying an additional 2,735 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at $279,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 49.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock worth $412,000 after acquiring an additional 1,057 shares during the period.
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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