Traders Purchase Large Volume of Direxion Daily S&P Biotech Bear 3x Shares Put Options (NYSEARCA:LABD)

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the recipient of some unusual options trading activity on Monday. Investors acquired 3,345 put options on the stock. This represents an increase of approximately 84% compared to the average volume of 1,814 put options.

Direxion Daily S&P Biotech Bear 3x Shares Price Performance

Shares of LABD stock traded down $0.19 on Monday, reaching $7.38. 3,764,081 shares of the company were exchanged, compared to its average volume of 6,749,079. The company has a 50-day moving average of $9.13 and a 200-day moving average of $13.92. Direxion Daily S&P Biotech Bear 3x Shares has a one year low of $6.68 and a one year high of $60.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC grew its stake in Direxion Daily S&P Biotech Bear 3x Shares by 107.7% in the second quarter. Jump Financial LLC now owns 174,239 shares of the company’s stock valued at $1,303,000 after acquiring an additional 90,333 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares during the third quarter worth approximately $5,063,000. Capstone Capital Management Ltd bought a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares in the 1st quarter worth $1,635,000. Group One Trading LLC bought a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares in the 2nd quarter worth $337,000. Finally, Tower Research Capital LLC TRC grew its position in Direxion Daily S&P Biotech Bear 3x Shares by 87.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 41,202 shares of the company’s stock valued at $308,000 after purchasing an additional 19,276 shares during the period.

Direxion Daily S&P Biotech Bear 3x Shares Company Profile

The Direxion Daily S&P Biotech Bear 3X Shares (LABD) is an exchange-traded fund that is based on the S&P Biotechnology Select Industry index. The fund provides daily 3 times inverse exposure to the S&P Biotechnology Select Industry Index. LABD was launched on May 28, 2015 and is managed by Direxion.