Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sets New 12-Month Low – Should You Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $68.01 and last traded at $68.78, with a volume of 521838 shares changing hands. The stock had previously closed at $71.98.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 4.0 %

The company has a fifty day moving average price of $84.80 and a 200 day moving average price of $105.08.

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

The business also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a $0.1071 dividend. The ex-dividend date is Tuesday, March 25th.

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

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at approximately $9,012,000. Virtu Financial LLC purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth $3,043,000. Tower Research Capital LLC TRC boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 177.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 27,048 shares of the company’s stock valued at $2,434,000 after buying an additional 17,315 shares during the period. Bank of America Corp DE increased its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% in the fourth quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock worth $1,323,000 after buying an additional 14,098 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $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.