Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading 9.8% Higher – Here’s Why

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price traded up 9.8% on Thursday . The stock traded as high as $182.50 and last traded at $181.68. 526,619 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 622,943 shares. The stock had previously closed at $165.45.

Direxion Daily S&P Biotech Bull 3x Shares Stock Down 10.6%

The firm’s fifty day moving average is $179.86 and its two-hundred day moving average is $168.89.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Covestor Ltd bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth $71,000. Qube Research & Technologies Ltd bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter valued at about $166,000. HighTower Advisors LLC boosted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 39.8% during the 4th quarter. HighTower Advisors LLC now owns 3,510 shares of the company’s stock valued at $559,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter valued at about $69,000.

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.