Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Sees Significant Growth in Short Interest

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 454,448 shares, an increase of 19.6% from the December 15th total of 380,079 shares. Based on an average daily trading volume, of 2,273,158 shares, the short-interest ratio is currently 0.2 days. Approximately 14.4% of the company’s shares are short sold. Approximately 14.4% of the company’s shares are short sold. Based on an average daily trading volume, of 2,273,158 shares, the short-interest ratio is currently 0.2 days.

Direxion Daily S&P Biotech Bear 3x Shares Trading Up 0.5%

Shares of NYSEARCA LABD traded up $0.10 on Monday, reaching $19.70. 1,676,266 shares of the company traded hands, compared to its average volume of 2,850,224. Direxion Daily S&P Biotech Bear 3x Shares has a fifty-two week low of $17.43 and a fifty-two week high of $160.50. The company has a 50 day moving average of $22.11 and a 200 day moving average of $40.19.

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

A number of large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. purchased a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares during the 2nd quarter valued at $84,000. Csenge Advisory Group acquired a new stake in Direxion Daily S&P Biotech Bear 3x Shares during the third quarter worth about $271,000. JPMorgan Chase & Co. increased its stake in Direxion Daily S&P Biotech Bear 3x Shares by 655.9% during the third quarter. JPMorgan Chase & Co. now owns 6,803 shares of the company’s stock worth $275,000 after acquiring an additional 5,903 shares during the last quarter. Scientech Research LLC purchased a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares in the 3rd quarter worth about $290,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Direxion Daily S&P Biotech Bear 3x Shares by 87.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 41,202 shares of the company’s stock valued at $308,000 after purchasing an additional 19,276 shares in the last quarter.

Direxion Daily S&P Biotech Bear 3x Shares Company Profile

The Direxion Daily S&P Biotech Bear 3X Shares (LABD) is an exchange-traded fund that is based on the S&P Biotechnology Select Industry index. The fund provides daily 3 times inverse exposure to the S&P Biotechnology Select Industry Index. LABD was launched on May 28, 2015 and is managed by Direxion.