Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – Here’s Why

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price gapped down prior to trading on Friday . The stock had previously closed at $170.74, but opened at $164.08. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $165.2680, with a volume of 83,975 shares changing hands.

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

The firm has a 50 day moving average price of $167.34 and a 200-day moving average price of $127.15.

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

Large investors have recently bought and sold shares of the stock. Ethos Financial Group LLC increased its position in Direxion Daily S&P Biotech Bull 3x Shares by 33.5% during the second quarter. Ethos Financial Group LLC now owns 9,055 shares of the company’s stock worth $515,000 after buying an additional 2,270 shares in the last quarter. RBF Capital LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the second quarter valued at $378,000. Allworth Financial LP increased its position in Direxion Daily S&P Biotech Bull 3x Shares by 1,777.8% during the 2nd quarter. Allworth Financial LP now owns 4,225 shares of the company’s stock worth $240,000 after purchasing an additional 4,000 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Direxion Daily S&P Biotech Bull 3x Shares by 12.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,388 shares of the company’s stock worth $193,000 after purchasing an additional 385 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 21.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,561 shares of the company’s stock valued at $203,000 after purchasing an additional 635 shares during the last quarter.

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.