Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 12-Month High – Should You Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $145.03 and last traded at $144.8380, with a volume of 345569 shares trading hands. The stock had previously closed at $134.88.

Direxion Daily S&P Biotech Bull 3x Shares Price Performance

The stock’s 50 day moving average is $109.05 and its two-hundred day moving average is $78.04.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 33.2% during the 2nd quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock worth $9,171,000 after acquiring an additional 40,157 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 664.7% in the third quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock worth $5,445,000 after purchasing an additional 50,564 shares in the last quarter. IMC Chicago LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth $3,806,000. JPMorgan Chase & Co. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $3,208,000. Finally, Virtu Financial LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $1,757,000.

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.