Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Trading Up 4.7%

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD)’s stock price shot up 4.7% during trading on Thursday . The stock traded as high as $13.41 and last traded at $13.22, 106,501 shares changed hands during mid-day trading. A decline of 97% from the average session volume of 3,279,747 shares. The stock had previously closed at $12.63.

The firm has a 50 day moving average price of $18.24 and a 200 day moving average price of $20.64.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XR Securities LLC bought a new stake in Direxion Daily S&P Biotech Bear 3x Shares during the third quarter valued at about $225,000. Simplex Trading LLC increased its position in Direxion Daily S&P Biotech Bear 3x Shares by 74.9% in the second quarter. Simplex Trading LLC now owns 35,592 shares of the company’s stock worth $641,000 after buying an additional 15,243 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Direxion Daily S&P Biotech Bear 3x Shares by 864.9% in the third quarter. Tower Research Capital LLC TRC now owns 43,210 shares of the company’s stock worth $1,094,000 after buying an additional 38,732 shares in the last quarter. Finally, Morgan Stanley increased its position in Direxion Daily S&P Biotech Bear 3x Shares by 0.9% in the second quarter. Morgan Stanley now owns 436,340 shares of the company’s stock worth $7,863,000 after buying an additional 4,008 shares in the last quarter.

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