Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report) dropped 8.1% during mid-day trading on Wednesday . The stock traded as low as $296.37 and last traded at $296.39. Approximately 374,829 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 622,473 shares. The stock had previously closed at $322.62.
Direxion Daily S&P Biotech Bull 3x Shares Trading Down 10.3%
The stock’s fifty day moving average price is $209.81 and its 200 day moving average price is $183.57.
Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares
Institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth $26,000. Headlands Technologies LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the second quarter valued at $69,000. Covestor Ltd purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter valued at $71,000. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter worth about $166,000. Finally, Bank of America Corp DE increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 134.2% in the 3rd quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after buying an additional 1,419 shares in 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.
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