Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 7.8% – Here’s Why

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price traded up 7.8% during trading on Tuesday . The company traded as high as $88.52 and last traded at $89.07. 896,900 shares traded hands during trading, a decline of 42% from the average session volume of 1,558,230 shares. The stock had previously closed at $82.60.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 8.1 %

The company’s 50-day moving average is $103.80 and its two-hundred day moving average is $120.90.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. McGuire Investment Group LLC lifted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 3.9% in the 3rd quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock worth $596,000 after purchasing an additional 175 shares during the period. SG Americas Securities LLC raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the fourth quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after acquiring an additional 193 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $43,000. Dunhill Financial LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at $46,000. Finally, Foundations Investment Advisors LLC increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 13.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,617 shares of the company’s stock worth $594,000 after purchasing an additional 530 shares in the last quarter.

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.