Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading 7.4% Higher – Should You Buy?

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) traded up 7.4% during mid-day trading on Monday . The company traded as high as $123.13 and last traded at $121.83. 158,937 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,940,740 shares. The stock had previously closed at $113.42.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 3.6 %

The company’s 50 day moving average is $125.04 and its 200-day moving average is $123.49.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. McGuire Investment Group LLC boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 3.9% during the third quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock worth $596,000 after purchasing an additional 175 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth about $43,000. Dunhill Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at about $46,000. Foundations Investment Advisors LLC raised its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 13.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,617 shares of the company’s stock valued at $594,000 after acquiring an additional 530 shares during the period. Finally, Headlands Technologies LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at about $68,000.

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.