Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Down 9.1% – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price traded down 9.1% during trading on Monday . The company traded as low as $176.90 and last traded at $177.45. 371,644 shares changed hands during trading, a decline of 39% from the average session volume of 612,834 shares. The stock had previously closed at $195.30.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 5.3%

The stock has a fifty day moving average of $177.67 and a 200 day moving average of $167.85.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LABU. Qube Research & Technologies Ltd acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth $69,000. Covestor Ltd purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth $71,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth approximately $166,000. Finally, Bank of America Corp DE lifted its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 134.2% in the third quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock valued at $232,000 after acquiring an additional 1,419 shares in the last quarter.

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.