Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 8.1% – Here’s What Happened

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) traded up 8.1% during mid-day trading on Wednesday . The company traded as high as $200.50 and last traded at $199.59. 197,844 shares were traded during trading, a decline of 68% from the average session volume of 619,477 shares. The stock had previously closed at $184.63.

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

The stock has a fifty day simple moving average of $182.01 and a 200-day simple moving average of $170.46.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

A number of large investors have recently added to or reduced their stakes in LABU. Qube Research & Technologies Ltd bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth about $26,000. Headlands Technologies LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth about $69,000. Covestor Ltd bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth about $71,000. Halbert Hargrove Global Advisors LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth about $166,000. Finally, Bank of America Corp DE increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 134.2% during the 3rd quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after purchasing an additional 1,419 shares in the last quarter.

Direxion Daily S&P Biotech Bull 3x Shares Company Profile

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.