Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 12-Month Low – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) hit a new 52-week low on Thursday . The company traded as low as $78.01 and last traded at $78.22, with a volume of 1159407 shares trading hands. The stock had previously closed at $81.36.

Direxion Daily S&P Biotech Bull 3x Shares Stock Down 3.9 %

The company has a fifty day moving average price of $91.65 and a two-hundred day moving average price of $113.87.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LABU. Dunhill Financial LLC purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $46,000. Spire Wealth Management purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $68,000. B. Riley Wealth Advisors Inc. acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $279,000. SBI Securities Co. Ltd. purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at about $244,000. Finally, SG Americas Securities LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the fourth quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock valued at $305,000 after buying an additional 193 shares in 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.