Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 7.8% – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares were up 7.8% on Tuesday . The stock traded as high as $88.52 and last traded at $89.07. Approximately 896,900 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 1,558,230 shares. The stock had previously closed at $82.60.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 5.7 %

The business has a 50-day simple moving average of $102.19 and a 200-day simple moving average of $120.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. 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 valued at $43,000. Dunhill Financial LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $46,000. B. Riley Wealth Advisors Inc. acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth $279,000. SG Americas Securities LLC boosted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock valued at $305,000 after purchasing an additional 193 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in shares of 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 worth $594,000 after purchasing an additional 530 shares during 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.