Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report) shares dropped 6.5% on Friday . The stock traded as low as $91.10 and last traded at $91.08. Approximately 1,019,676 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 1,380,096 shares. The stock had previously closed at $97.39.
Direxion Daily S&P Biotech Bull 3x Shares Trading Down 6.6 %
The business has a 50 day simple moving average of $98.60 and a two-hundred day simple moving average of $117.96.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth approximately $244,000. Spire Wealth Management purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at $68,000. SG Americas Securities LLC increased its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% during the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after buying an additional 193 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock worth $625,000 after buying an additional 2,735 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter worth $279,000.
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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