Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Up 6.5% – Should You Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares rose 6.5% during trading on Wednesday . The stock traded as high as $101.60 and last traded at $101.37. Approximately 630,510 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 1,387,047 shares. The stock had previously closed at $95.15.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 6.7 %

The company has a fifty day moving average price of $99.69 and a 200 day moving average price of $118.22.

Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares

A number of institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at about $68,000. SG Americas Securities LLC grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% during the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after buying an additional 193 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 129.3% during the third quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock valued at $625,000 after purchasing an additional 2,735 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $279,000. Finally, Tidal Investments LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $9,012,000.

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.