Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 7.3% – Here’s Why

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) rose 7.3% on Thursday . The stock traded as high as $267.99 and last traded at $266.21. Approximately 258,225 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 626,102 shares. The stock had previously closed at $248.04.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 7.1%

The business’s fifty day simple moving average is $190.14 and its 200-day simple moving average is $174.40.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Several institutional investors have recently bought and sold shares of LABU. Qube Research & Technologies Ltd bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter valued at about $69,000. Covestor Ltd purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter valued at about $71,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the first quarter valued at about $166,000. Finally, Bank of America Corp DE increased its holdings 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 worth $232,000 after purchasing an additional 1,419 shares during the last quarter.

About Direxion Daily S&P Biotech Bull 3x Shares

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.