Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 6.4% – What’s Next?
by Michael Walen · The Markets DailyDirexion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report) shares traded up 6.4% during trading on Tuesday . The stock traded as high as $325.00 and last traded at $324.45. Approximately 401,709 shares traded hands during trading, a decline of 36% from the average daily volume of 623,427 shares. The stock had previously closed at $304.95.
Direxion Daily S&P Biotech Bull 3x Shares Stock Up 5.4%
The firm’s 50-day moving average is $201.50 and its two-hundred day moving average is $180.13.
Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Capital Advisors LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $648,000. JPMorgan Chase & Co. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth approximately $3,208,000. SLT Holdings LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at approximately $797,000. Foundations Investment Advisors LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at approximately $797,000. Finally, Group One Trading LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at approximately $349,000.
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.