Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 11.5% – Still a Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares traded up 11.5% during trading on Wednesday . The stock traded as high as $156.22 and last traded at $155.59. 355,385 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 657,687 shares. The stock had previously closed at $139.52.

Direxion Daily S&P Biotech Bull 3x Shares Stock Performance

The company has a 50 day simple moving average of $165.53 and a two-hundred day simple moving average of $142.86.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 68.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock valued at $47,000 after buying an additional 206 shares during the period. Covestor Ltd bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter valued at $71,000. Qube Research & Technologies Ltd bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter valued at $26,000. SG Americas Securities LLC raised its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 21.7% in the second quarter. SG Americas Securities LLC now owns 3,561 shares of the company’s stock valued at $203,000 after acquiring an additional 635 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 39.8% in the fourth quarter. HighTower Advisors LLC now owns 3,510 shares of the company’s stock valued at $559,000 after acquiring an additional 1,000 shares during the period.

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.