Direxion Daily S&P Biotech Bear 3X ETF Sees Unusually Large Options Volume (NYSEARCA:LABD)

Direxion Daily S&P Biotech Bear 3X ETF (NYSEARCA:LABD) was the recipient of some unusual options trading activity on Monday. Traders acquired 3,641 put options on the stock. This represents an increase of 68% compared to the average daily volume of 2,165 put options.

Direxion Daily S&P Biotech Bear 3X ETF Stock Performance

Shares of LABD opened at $7.97 on Wednesday. The company has a 50-day moving average of $7.24 and a two-hundred day moving average of $10.88. Direxion Daily S&P Biotech Bear 3X ETF has a 12-month low of $5.81 and a 12-month high of $37.74.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC lifted its stake in Direxion Daily S&P Biotech Bear 3X ETF by 68.9% in the 2nd quarter. Squarepoint Ops LLC now owns 110,977 shares of the company’s stock valued at $856,000 after buying an additional 45,264 shares in the last quarter. IMC Chicago LLC acquired a new stake in Direxion Daily S&P Biotech Bear 3X ETF during the 1st quarter valued at $204,000. Finally, Capstone Capital Management Ltd purchased a new position in Direxion Daily S&P Biotech Bear 3X ETF during the first quarter worth $1,635,000.

Direxion Daily S&P Biotech Bear 3X ETF 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.