Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 52-Week High – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares hit a new 52-week high on Thursday . The company traded as high as $195.33 and last traded at $197.3450, with a volume of 352145 shares. The stock had previously closed at $181.45.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 8.2%

The company’s fifty day moving average price is $160.26 and its 200-day moving average price is $112.13.

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

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 33.2% in the second quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock worth $9,171,000 after acquiring an additional 40,157 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 664.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock worth $5,445,000 after purchasing an additional 50,564 shares in the last quarter. IMC Chicago LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter worth about $3,806,000. JPMorgan Chase & Co. purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $3,208,000. Finally, Virtu Financial LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $1,757,000.

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.