Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Short Interest Update

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 1,282,116 shares, a growth of 67.4% from the March 15th total of 765,827 shares. Based on an average daily trading volume, of 5,967,409 shares, the short-interest ratio is presently 0.2 days. Approximately 20.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LABD. Envestnet Asset Management Inc. purchased a new position in Direxion Daily S&P Biotech Bear 3x Shares during the second quarter worth about $84,000. Jump Financial LLC raised its holdings in Direxion Daily S&P Biotech Bear 3x Shares by 107.7% during the second quarter. Jump Financial LLC now owns 174,239 shares of the company’s stock worth $1,303,000 after purchasing an additional 90,333 shares in the last quarter. Group One Trading LLC purchased a new position in Direxion Daily S&P Biotech Bear 3x Shares during the second quarter worth about $337,000. Tower Research Capital LLC TRC raised its holdings in Direxion Daily S&P Biotech Bear 3x Shares by 87.9% during the second quarter. Tower Research Capital LLC TRC now owns 41,202 shares of the company’s stock worth $308,000 after purchasing an additional 19,276 shares in the last quarter. Finally, Csenge Advisory Group purchased a new position in Direxion Daily S&P Biotech Bear 3x Shares during the third quarter worth about $271,000.

Direxion Daily S&P Biotech Bear 3x Shares Price Performance

Shares of NYSEARCA:LABD traded up $0.35 on Wednesday, reaching $13.81. The company’s stock had a trading volume of 3,827,319 shares, compared to its average volume of 4,128,785. The stock’s 50-day moving average is $18.17 and its two-hundred day moving average is $22.72. Direxion Daily S&P Biotech Bear 3x Shares has a 52-week low of $12.97 and a 52-week high of $111.50.

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.