Short Interest in Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Increases By 19.6%

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 543,357 shares, an increase of 19.6% from the December 31st total of 454,448 shares. Currently, 15.3% of the company’s shares are sold short. Based on an average daily volume of 2,967,702 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 2,967,702 shares, the days-to-cover ratio is presently 0.2 days. Currently, 15.3% of the company’s shares are sold short.

Institutional Trading of Direxion Daily S&P Biotech Bear 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in LABD. Csenge Advisory Group purchased a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares during the third quarter valued at $271,000. JPMorgan Chase & Co. grew its stake in Direxion Daily S&P Biotech Bear 3x Shares by 655.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,803 shares of the company’s stock worth $275,000 after acquiring an additional 5,903 shares in the last quarter. Scientech Research LLC bought a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares during the third quarter valued at approximately $290,000. Envestnet Asset Management Inc. purchased a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares in the second quarter valued at approximately $84,000. Finally, Boothbay Fund Management LLC bought a new position in Direxion Daily S&P Biotech Bear 3x Shares in the third quarter worth approximately $893,000.

Direxion Daily S&P Biotech Bear 3x Shares Stock Up 4.5%

NYSEARCA LABD traded up $0.81 during trading on Wednesday, hitting $18.71. The stock had a trading volume of 2,634,189 shares, compared to its average volume of 2,827,557. The stock has a 50 day simple moving average of $20.18 and a 200 day simple moving average of $36.21. Direxion Daily S&P Biotech Bear 3x Shares has a one year low of $16.25 and a one year high of $160.50.

About Direxion Daily S&P Biotech Bear 3x Shares

The Direxion Daily S&P Biotech Bear 3X Shares (LABD) is an exchange-traded fund that is based on the S&P Biotechnology Select Industry index. The fund provides daily 3 times inverse exposure to the S&P Biotechnology Select Industry Index. LABD was launched on May 28, 2015 and is managed by Direxion.