Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Short Interest Up 20.6% in January

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 763,936 shares, an increase of 20.6% from the December 31st total of 633,330 shares. Based on an average trading volume of 814,373 shares, the days-to-cover ratio is presently 0.9 days. Currently, 20.8% of the company’s shares are short sold. Currently, 20.8% of the company’s shares are short sold. Based on an average trading volume of 814,373 shares, the days-to-cover ratio is presently 0.9 days.

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

LABU stock traded up $1.06 on Tuesday, hitting $177.31. 746,222 shares of the company were exchanged, compared to its average volume of 701,425. Direxion Daily S&P Biotech Bull 3x Shares has a twelve month low of $32.55 and a twelve month high of $198.18. The business’s fifty day moving average is $166.82 and its two-hundred day moving average is $118.86.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in 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 valued at $47,000 after buying an additional 206 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 46.3% during the 2nd quarter. Spire Wealth Management now owns 1,106 shares of the company’s stock valued at $63,000 after acquiring an additional 350 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $69,000. Finally, Bank of America Corp DE raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 134.2% in the third quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock valued at $232,000 after purchasing 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.