Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Short Interest Update

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 1,842,594 shares, an increase of 43.7% from the March 31st total of 1,282,116 shares. Based on an average trading volume of 7,691,862 shares, the days-to-cover ratio is presently 0.2 days. Currently, 24.7% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Simplex Trading LLC acquired a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares during the 4th quarter worth $48,000. Envestnet Asset Management Inc. acquired a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares during the 2nd quarter worth $84,000. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares during the 4th quarter worth $245,000. Csenge Advisory Group acquired a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares during the 3rd quarter worth $271,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Direxion Daily S&P Biotech Bear 3x Shares by 655.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,803 shares of the company’s stock worth $275,000 after buying an additional 5,903 shares during the last quarter.

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

Direxion Daily S&P Biotech Bear 3x Shares stock traded down $0.80 during midday trading on Thursday, reaching $14.83. The company’s stock had a trading volume of 3,562,748 shares, compared to its average volume of 4,304,288. Direxion Daily S&P Biotech Bear 3x Shares has a fifty-two week low of $12.47 and a fifty-two week high of $101.00. The stock’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $21.02.

About Direxion Daily S&P Biotech Bear 3x Shares

The Direxion Daily S&P Biotech Bear 3X Shares (LABD) is an exchange-traded fund that is based on the S&P Biotechnology Select Industry index. The fund provides daily 3 times inverse exposure to the S&P Biotechnology Select Industry Index. LABD was launched on May 28, 2015 and is managed by Direxion.