Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Short Interest Down 13.4% in March

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 632,819 shares, a drop of 13.4% from the March 15th total of 730,469 shares. Approximately 24.2% of the company’s shares are sold short. Based on an average daily trading volume, of 692,476 shares, the short-interest ratio is currently 0.9 days.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at $71,000. Qube Research & Technologies Ltd acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 68.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock valued at $47,000 after buying an additional 206 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $69,000. Finally, Bank of America Corp DE increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 134.2% in the 3rd quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock valued at $232,000 after buying an additional 1,419 shares during the period.

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

NYSEARCA LABU opened at $196.68 on Friday. The stock has a fifty day moving average of $164.92 and a 200-day moving average of $152.59. Direxion Daily S&P Biotech Bull 3x Shares has a 52 week low of $44.51 and a 52 week high of $205.39.

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.