Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report) dropped 4.8% during trading on Friday . The company traded as low as $110.30 and last traded at $110.77. Approximately 671,212 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 3,026,649 shares. The stock had previously closed at $116.41.
Direxion Daily S&P Biotech Bull 3x Shares Stock Performance
The company’s 50-day moving average is $132.23 and its two-hundred day moving average is $103.49.
Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares
Several institutional investors and hedge funds have recently added to or reduced their stakes in LABU. Advisor Group Holdings Inc. lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 64.9% in the first quarter. Advisor Group Holdings Inc. now owns 3,190 shares of the company’s stock worth $50,000 after acquiring an additional 1,255 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 11.3% during the 3rd quarter. Captrust Financial Advisors now owns 25,125 shares of the company’s stock valued at $176,000 after acquiring an additional 2,560 shares in the last quarter. Traynor Capital Management Inc. bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth $325,000. UBS Group AG bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth $351,000. Finally, Gateway Advisory LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth about $366,000.
About Direxion Daily S&P Biotech Bull 3x Shares
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.
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