Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 7.3% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price shot up 7.3% during mid-day trading on Thursday . The company traded as high as $267.99 and last traded at $266.21. Approximately 258,225 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 626,102 shares. The stock had previously closed at $248.04.

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

The business’s 50-day moving average is $187.44 and its two-hundred day moving average is $173.04.

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

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in Direxion Daily S&P Biotech Bull 3x Shares by 664.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock worth $5,445,000 after buying an additional 50,564 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 33.2% during the second quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock valued at $9,171,000 after acquiring an additional 40,157 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at $3,208,000. Virtu Financial LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at $1,757,000. Finally, IvyRock Asset Management HK Ltd bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $768,000.

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.