Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 5.4% – Here’s Why

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price rose 5.4% during mid-day trading on Monday . The company traded as high as $101.36 and last traded at $100.45. Approximately 691,640 shares traded hands during trading, a decline of 53% from the average daily volume of 1,470,370 shares. The stock had previously closed at $95.33.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 3.8 %

The firm’s fifty day simple moving average is $101.69 and its 200 day simple moving average is $120.24.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LABU. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at approximately $43,000. Dunhill Financial LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $46,000. Spire Wealth Management acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth about $68,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at about $279,000. Finally, SG Americas Securities LLC increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the fourth quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock valued at $305,000 after buying an additional 193 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.