Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 11.5% – Here’s Why

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price traded up 11.5% during trading on Wednesday . The company traded as high as $156.22 and last traded at $155.59. 355,385 shares were traded during trading, a decline of 46% from the average session volume of 657,687 shares. The stock had previously closed at $139.52.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 0.1%

The company’s fifty day simple moving average is $164.86 and its 200-day simple moving average is $143.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth approximately $71,000. Qube Research & Technologies Ltd acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 68.7% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock worth $47,000 after buying an additional 206 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth $69,000. Finally, Bank of America Corp DE lifted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 134.2% during the third quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after buying an additional 1,419 shares during the period.

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.