Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sees Strong Trading Volume – Here’s What Happened

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABUGet Free Report) saw unusually-strong trading volume on Monday . Approximately 929,360 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 1,101,888 shares.The stock last traded at $79.72 and had previously closed at $87.44.

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

The business’s 50-day moving average price is $110.52 and its 200 day moving average price is $122.07.

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

A number of large investors have recently modified their holdings of LABU. Tidal Investments LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at approximately $9,012,000. Bank of New York Mellon Corp purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter valued at approximately $596,000. JPMorgan Chase & Co. raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 129.3% in the third quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock valued at $625,000 after purchasing an additional 2,735 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at approximately $279,000. Finally, SG Americas Securities LLC raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 49.3% in the third quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock valued at $412,000 after purchasing an additional 1,057 shares in the last quarter.

Direxion Daily S&P Biotech Bull 3x Shares Company Profile

(Get Free Report)

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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