Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 9.7%

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price were up 9.7% during trading on Thursday . The company traded as high as $149.50 and last traded at $149.11. Approximately 899,399 shares changed hands during trading, a decline of 64% from the average daily volume of 2,473,246 shares. The stock had previously closed at $135.95.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 1.6 %

The firm has a fifty day simple moving average of $117.37 and a 200 day simple moving average of $119.69.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LABU. TB Alternative Assets Ltd. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter valued at about $10,180,000. Tidal Investments LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth approximately $1,858,000. Traynor Capital Management Inc. increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 73.8% during the 2nd quarter. Traynor Capital Management Inc. now owns 10,089 shares of the company’s stock worth $1,144,000 after purchasing an additional 4,285 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth approximately $596,000. Finally, Gainplan LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth approximately $664,000.

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.