Short Interest in Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Decreases By 36.8%

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) was the recipient of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,270,000 shares, a decrease of 36.8% from the May 15th total of 2,010,000 shares. Currently, 11.6% of the shares of the company are sold short. Based on an average daily trading volume, of 2,114,200 shares, the short-interest ratio is currently 0.6 days.

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

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at approximately $244,000. Two Sigma Securities LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at approximately $323,000. XTX Topco Ltd purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter valued at approximately $313,000. Ethos Financial Group LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter valued at approximately $414,000. Finally, Bank of America Corp DE lifted its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% during the 4th quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock valued at $1,323,000 after buying an additional 14,098 shares in the last quarter.

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

Shares of LABU stock traded down $2.50 on Tuesday, hitting $55.92. The company had a trading volume of 1,337,455 shares, compared to its average volume of 1,473,280. The company has a 50-day moving average price of $52.52 and a 200-day moving average price of $75.08. Direxion Daily S&P Biotech Bull 3x Shares has a twelve month low of $32.55 and a twelve month high of $152.60.

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.