Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Down 6.1% – What’s Next?

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) were down 6.1% on Friday . The company traded as low as $184.45 and last traded at $183.9580. Approximately 378,366 shares were traded during trading, a decline of 49% from the average daily volume of 744,305 shares. The stock had previously closed at $195.95.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 6.1%

The business’s fifty day simple moving average is $161.65 and its 200 day simple moving average is $112.72.

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

Several hedge funds have recently bought and sold shares of LABU. Ethos Financial Group LLC lifted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 33.5% in the second quarter. Ethos Financial Group LLC now owns 9,055 shares of the company’s stock valued at $515,000 after buying an additional 2,270 shares in the last quarter. RBF Capital LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at about $378,000. Allworth Financial LP grew its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 1,777.8% during the second quarter. Allworth Financial LP now owns 4,225 shares of the company’s stock worth $240,000 after purchasing an additional 4,000 shares during the period. SBI Securities Co. Ltd. increased its position in Direxion Daily S&P Biotech Bull 3x Shares by 12.8% during the second quarter. SBI Securities Co. Ltd. now owns 3,388 shares of the company’s stock worth $193,000 after buying an additional 385 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 21.7% in the second quarter. SG Americas Securities LLC now owns 3,561 shares of the company’s stock valued at $203,000 after buying an additional 635 shares during the period.

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.