Direxion Daily S&P Biotech Bull 3X ETF (NYSEARCA:LABU) Share Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

Direxion Daily S&P Biotech Bull 3X ETF (NYSEARCA:LABU) shares passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $217.76 and traded as low as $207.50. Direxion Daily S&P Biotech Bull 3X ETF shares last traded at $208.62, with a volume of 631,633 shares trading hands.

Direxion Daily S&P Biotech Bull 3X ETF Trading Up 7.3%

The business’s 50 day moving average is $251.97 and its two-hundred day moving average is $218.03.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3X ETF

Large investors have recently bought and sold shares of the stock. Ramsey Quantitative Systems acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3X ETF in the 2nd quarter worth approximately $41,000. StoneX Group Inc. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3X ETF during the third quarter valued at approximately $241,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3X ETF during the third quarter valued at approximately $266,000. Valued Retirements Inc. bought a new stake in Direxion Daily S&P Biotech Bull 3X ETF during the second quarter worth approximately $454,000. Finally, Revere Asset Management Inc bought a new stake in Direxion Daily S&P Biotech Bull 3X ETF during the second quarter worth approximately $666,000.

Direxion Daily S&P Biotech Bull 3X ETF 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.