Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Down 7.2% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price dropped 7.2% during trading on Monday . The company traded as low as $149.05 and last traded at $146.1720. Approximately 268,440 shares changed hands during trading, a decline of 3% from the average daily volume of 276,463 shares. The stock had previously closed at $157.50.

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

The firm’s 50-day moving average price is $149.18 and its two-hundred day moving average price is $102.52.

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

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

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.