Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 6.9% – Should You Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares traded up 6.9% on Tuesday . The company traded as high as $333.41 and last traded at $329.65. 136,320 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 579,289 shares. The stock had previously closed at $308.33.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 1.2%

The firm’s fifty day moving average is $273.87 and its 200-day moving average is $208.37.

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

Hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter worth about $26,000. Squarepoint Ops LLC grew its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 33.2% during the second quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock worth $9,171,000 after purchasing an additional 40,157 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the second quarter valued at approximately $69,000. JPMorgan Chase & Co. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at approximately $3,208,000. Finally, Group One Trading LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth approximately $349,000.

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.