Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Down 3.4% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) fell 3.4% during trading on Tuesday . The stock traded as low as $160.55 and last traded at $159.4150. 118,793 shares were traded during trading, a decline of 92% from the average session volume of 1,427,443 shares. The stock had previously closed at $165.09.

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

The company’s 50-day moving average is $145.79 and its two-hundred day moving average is $99.67.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Several large investors have recently modified their holdings of the business. Qube Research & Technologies Ltd purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 68.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock worth $47,000 after purchasing an additional 206 shares in the last quarter. Spire Wealth Management boosted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 46.3% in the 2nd quarter. Spire Wealth Management now owns 1,106 shares of the company’s stock valued at $63,000 after purchasing an additional 350 shares during the period. Headlands Technologies LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter valued at $69,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 12.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,388 shares of the company’s stock worth $193,000 after purchasing an additional 385 shares during the period.

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.