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

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $135.79, but opened at $149.00. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $159.75, with a volume of 431,340 shares changing hands.

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

The firm’s 50 day moving average is $163.71 and its 200-day moving average is $144.71.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LABU. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 68.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock worth $47,000 after purchasing an additional 206 shares during the last quarter. Covestor Ltd acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at $71,000. Qube Research & Technologies Ltd acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter valued at $26,000. SG Americas Securities LLC lifted its position in Direxion Daily S&P Biotech Bull 3x Shares by 21.7% during the second quarter. SG Americas Securities LLC now owns 3,561 shares of the company’s stock worth $203,000 after buying an additional 635 shares during the period. Finally, HighTower Advisors LLC lifted its position in Direxion Daily S&P Biotech Bull 3x Shares by 39.8% during the fourth quarter. HighTower Advisors LLC now owns 3,510 shares of the company’s stock worth $559,000 after buying an additional 1,000 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.