Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – Should You Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $80.14, but opened at $77.15. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $74.70, with a volume of 364,511 shares traded.

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

The business’s 50-day moving average is $86.37 and its 200 day moving average is $107.75.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of 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 acquiring an additional 193 shares during the period. Dunhill Financial LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $46,000. Spire Wealth Management purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at about $68,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $279,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at about $244,000.

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.