Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Reaches New 52-Week Low – Here’s Why

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) hit a new 52-week low on Wednesday . The company traded as low as $69.69 and last traded at $74.81, with a volume of 1367852 shares changing hands. The stock had previously closed at $73.73.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 1.5 %

The stock has a fifty day moving average of $90.30 and a two-hundred day moving average of $112.46.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dunhill Financial LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth approximately $46,000. Spire Wealth Management bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth approximately $68,000. SBI Securities Co. Ltd. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth approximately $244,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter worth approximately $279,000. Finally, SG Americas Securities LLC grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after buying an additional 193 shares during the last quarter.

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.