Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 5.6% – Still a Buy?

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) rose 5.6% on Tuesday . The stock traded as high as $63.98 and last traded at $63.77. Approximately 466,244 shares changed hands during trading, a decline of 68% from the average daily volume of 1,476,736 shares. The stock had previously closed at $60.41.

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

The stock has a fifty day moving average price of $50.84 and a two-hundred day moving average price of $77.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at $3,043,000. Tower Research Capital LLC TRC raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 177.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 27,048 shares of the company’s stock worth $2,434,000 after acquiring an additional 17,315 shares in the last quarter. Bank of America Corp DE lifted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% in the 4th quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock valued at $1,323,000 after acquiring an additional 14,098 shares during the last quarter. Ethos Financial Group LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter valued at about $414,000. Finally, XTX Topco Ltd acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter worth approximately $313,000.

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.