Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Reaches New 52-Week High – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $341.93 and last traded at $341.55, with a volume of 719594 shares changing hands. The stock had previously closed at $289.98.

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

The stock has a 50-day moving average price of $260.45 and a 200 day moving average price of $203.01.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth approximately $41,000. Covestor Ltd acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at $71,000. Qube Research & Technologies Ltd acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $26,000. HighTower Advisors LLC raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 39.8% in the 4th quarter. HighTower Advisors LLC now owns 3,510 shares of the company’s stock valued at $559,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth $166,000.

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.