Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading 7.1% Higher – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) were up 7.1% during trading on Wednesday . The company traded as high as $156.70 and last traded at $158.4790. Approximately 347,124 shares were traded during trading, a decline of 77% from the average daily volume of 1,497,310 shares. The stock had previously closed at $148.01.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 6.8%

The company has a fifty day moving average price of $122.15 and a two-hundred day moving average price of $84.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 33.2% during the second quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock worth $9,171,000 after acquiring an additional 40,157 shares during the period. Tower Research Capital LLC TRC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 664.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock worth $5,445,000 after purchasing an additional 50,564 shares in the last quarter. IMC Chicago LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth about $3,806,000. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at about $3,208,000. Finally, Virtu Financial LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $1,757,000.

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.