Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report) traded down 5.2% on Tuesday . The stock traded as low as $107.69 and last traded at $108.74. 1,266,968 shares traded hands during trading, a decline of 50% from the average session volume of 2,548,215 shares. The stock had previously closed at $114.70.
Direxion Daily S&P Biotech Bull 3x Shares Trading Down 5.1 %
The firm has a 50-day moving average of $106.88 and a two-hundred day moving average of $118.31.
Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares
Several institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the first quarter valued at about $1,858,000. McGuire Investment Group LLC raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 11.4% in the first quarter. McGuire Investment Group LLC now owns 4,594 shares of the company’s stock valued at $610,000 after purchasing an additional 470 shares during the last quarter. Gainplan LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the first quarter valued at about $664,000. TB Alternative Assets Ltd. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the first quarter valued at about $10,180,000. Finally, Traynor Capital Management Inc. raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 118.0% in the first quarter. Traynor Capital Management Inc. now owns 5,804 shares of the company’s stock valued at $770,000 after purchasing an additional 3,142 shares during the last quarter.
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.
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