Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sets New 52-Week High – Time to Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $307.00 and last traded at $300.50, with a volume of 92730 shares. The stock had previously closed at $303.45.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 5.8%

The company’s 50-day moving average is $204.22 and its two-hundred day moving average is $181.30.

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

A number of large investors have recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the first quarter valued at approximately $166,000. Barclays PLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at approximately $893,000. Renaissance Technologies LLC grew its stake in Direxion Daily S&P Biotech Bull 3x Shares by 10.6% during the fourth quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock valued at $3,650,000 after acquiring an additional 2,200 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth about $797,000. Finally, SLT Holdings LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth approximately $797,000.

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.