Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 6.9% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price traded up 6.9% during trading on Monday . The company traded as high as $186.60 and last traded at $185.67. 277,295 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 631,280 shares. The stock had previously closed at $173.61.

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

The firm has a 50-day moving average of $170.39 and a two-hundred day moving average of $159.47.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Several hedge funds have recently modified their holdings of LABU. Qube Research & Technologies Ltd bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $26,000. Squarepoint Ops LLC increased its holdings in shares of 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 purchasing an additional 40,157 shares during the period. Headlands Technologies LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the second quarter valued at about $69,000. McGuire Investment Group LLC lifted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 30.2% in the third quarter. McGuire Investment Group LLC now owns 6,547 shares of the company’s stock valued at $613,000 after buying an additional 1,519 shares during the period. Finally, IMC Chicago LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $3,806,000.

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.