Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Down 6.4% – Should You Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price fell 6.4% during mid-day trading on Thursday . The company traded as low as $107.30 and last traded at $107.39. 803,797 shares were traded during trading, a decline of 57% from the average session volume of 1,886,394 shares. The stock had previously closed at $114.79.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 7.7 %

The stock’s fifty day simple moving average is $122.93 and its 200-day simple moving average is $124.14.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. McGuire Investment Group LLC raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 3.9% in the 3rd quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock valued at $596,000 after purchasing an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at $43,000. Dunhill Financial LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at $46,000. Foundations Investment Advisors LLC grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 13.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,617 shares of the company’s stock valued at $594,000 after buying an additional 530 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $68,000.

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.