Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sets New 52-Week High – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $169.50 and last traded at $167.9060, with a volume of 88167 shares changing hands. The stock had previously closed at $166.04.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 0.4%

The firm’s 50-day moving average price is $125.30 and its 200 day moving average price is $85.95.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in LABU. Squarepoint Ops LLC increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 33.2% in the 2nd quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock valued at $9,171,000 after purchasing an additional 40,157 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 664.7% in the third quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock valued at $5,445,000 after buying an additional 50,564 shares in the last quarter. IMC Chicago LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $3,806,000. JPMorgan Chase & Co. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $3,208,000. Finally, Virtu Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $1,757,000.

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.