Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – Time to Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares gapped down prior to trading on Monday . The stock had previously closed at $47.00, but opened at $45.50. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $46.79, with a volume of 196,479 shares trading hands.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 1.2 %

The stock’s 50 day moving average price is $69.07 and its 200 day moving average price is $95.06.

Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares

Several institutional investors have recently made changes to their positions in LABU. Bank of America Corp DE increased its position in Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% during the 4th quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock worth $1,323,000 after purchasing an additional 14,098 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at $323,000. Tower Research Capital LLC TRC boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 177.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,048 shares of the company’s stock worth $2,434,000 after purchasing an additional 17,315 shares during the period. Virtu Financial LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at $3,043,000. Finally, SBI Securities Co. Ltd. purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at about $244,000.

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.