Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 5.5% – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares were up 5.5% on Friday . The stock traded as high as $268.86 and last traded at $268.86. Approximately 209,641 shares were traded during trading, a decline of 66% from the average daily volume of 616,241 shares. The stock had previously closed at $254.80.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 4.2%

The company has a fifty day moving average of $218.82 and a 200-day moving average of $187.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth $26,000. Ramsey Quantitative Systems acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth about $41,000. Headlands Technologies LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth about $69,000. Covestor Ltd purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at about $71,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter valued at about $166,000.

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.