Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading 9.8% Higher – Time to Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares were up 9.8% on Thursday . The company traded as high as $182.50 and last traded at $181.68. Approximately 526,619 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 622,943 shares. The stock had previously closed at $165.45.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 9.0%

The business has a 50 day moving average of $178.96 and a two-hundred day moving average of $168.63.

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

A number of institutional investors have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 1st quarter valued at about $166,000. Barclays PLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $893,000. Renaissance Technologies LLC boosted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 10.6% in the 4th quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock valued at $3,650,000 after purchasing an additional 2,200 shares during the period. Foundations Investment Advisors LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $797,000. Finally, SLT Holdings LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $797,000.

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.