Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sees Strong Trading Volume – Here’s Why

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares saw an uptick in trading volume on Monday . 929,360 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 1,101,888 shares.The stock last traded at $79.72 and had previously closed at $87.44.

Direxion Daily S&P Biotech Bull 3x Shares Stock Down 8.3 %

The business’s 50-day moving average price is $108.63 and its 200-day moving average price is $121.63.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth $43,000. Dunhill Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter worth about $46,000. Headlands Technologies LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter valued at approximately $68,000. B. Riley Wealth Advisors Inc. acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at approximately $279,000. Finally, SG Americas Securities LLC grew its position in Direxion Daily S&P Biotech Bull 3x Shares by 49.3% in the third quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock worth $412,000 after acquiring an additional 1,057 shares in the last quarter.

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.