Short Interest in Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Declines By 36.8%

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,270,000 shares, a decline of 36.8% from the May 15th total of 2,010,000 shares. Based on an average daily volume of 2,114,200 shares, the days-to-cover ratio is presently 0.6 days. Approximately 11.6% of the shares of the company are sold short.

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

Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 10.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,003 shares of the company’s stock valued at $183,000 after buying an additional 295 shares during the period. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $323,000. XTX Topco Ltd acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter valued at about $313,000. Ethos Financial Group LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter valued at about $414,000. Finally, Bank of America Corp DE lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% in the 4th quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock valued at $1,323,000 after buying an additional 14,098 shares during the period.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 2.9%

Direxion Daily S&P Biotech Bull 3x Shares stock opened at $58.76 on Monday. The business’s 50-day simple moving average is $52.11 and its two-hundred day simple moving average is $75.55. Direxion Daily S&P Biotech Bull 3x Shares has a fifty-two week low of $32.55 and a fifty-two week high of $152.60.

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.