Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 7.3% – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price traded up 7.3% during mid-day trading on Thursday . The company traded as high as $267.99 and last traded at $266.21. Approximately 258,225 shares changed hands during trading, a decline of 59% from the average session volume of 626,102 shares. The stock had previously closed at $248.04.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 4.1%

The company has a 50-day moving average price of $187.44 and a 200-day moving average price of $173.04.

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

Institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth approximately $71,000. Qube Research & Technologies Ltd bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the first quarter valued at $166,000. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the second quarter valued at $69,000. Finally, Bank of America Corp DE boosted its stake in 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 valued at $232,000 after buying an additional 1,419 shares in the last quarter.

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.