Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 8.1% – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price rose 8.1% during trading on Wednesday . The stock traded as high as $200.50 and last traded at $199.59. Approximately 197,844 shares changed hands during trading, a decline of 68% from the average daily volume of 619,477 shares. The stock had previously closed at $184.63.

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

The company has a 50 day moving average of $182.01 and a 200 day moving average of $170.46.

Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth $71,000. Qube Research & Technologies Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth $166,000. Headlands Technologies LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth $69,000. Finally, Bank of America Corp DE raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 134.2% during the 3rd quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after buying an additional 1,419 shares during the period.

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.