Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 7.8% – Still a Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price traded up 7.8% during trading on Tuesday . The stock traded as high as $88.52 and last traded at $89.07. 896,900 shares traded hands during trading, a decline of 42% from the average session volume of 1,558,230 shares. The stock had previously closed at $82.60.

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

The stock’s fifty day moving average is $102.19 and its two-hundred day moving average is $120.55.

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

Several large investors have recently bought and sold shares of LABU. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth $43,000. Dunhill Financial LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter worth about $46,000. B. Riley Wealth Advisors Inc. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at about $279,000. SG Americas Securities LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 49.3% during the third quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock worth $412,000 after buying an additional 1,057 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 13.0% in the third quarter. Foundations Investment Advisors LLC now owns 4,617 shares of the company’s stock worth $594,000 after acquiring an additional 530 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.