Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Short Interest Down 13.4% in March

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totaling 632,819 shares, a drop of 13.4% from the March 15th total of 730,469 shares. Based on an average daily volume of 692,476 shares, the short-interest ratio is currently 0.9 days. Approximately 24.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 33.2% during the 2nd quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock valued at $9,171,000 after purchasing an additional 40,157 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 664.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock valued at $5,445,000 after purchasing an additional 50,564 shares in the last quarter. IMC Chicago LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at $3,806,000. JPMorgan Chase & Co. acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at $3,208,000. Finally, Renaissance Technologies LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock valued at $3,650,000 after purchasing an additional 2,200 shares in the last quarter.

Direxion Daily S&P Biotech Bull 3x Shares Stock Down 2.2%

LABU stock opened at $196.68 on Friday. The business has a fifty day moving average price of $164.92 and a 200 day moving average price of $152.59. Direxion Daily S&P Biotech Bull 3x Shares has a fifty-two week low of $44.51 and a fifty-two week high of $205.39.

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.