Stock Traders Purchase Large Volume of Direxion Daily S&P Biotech Bear 3X ETF Put Options (NYSEARCA:LABD)

Direxion Daily S&P Biotech Bear 3X ETF (NYSEARCA:LABD) was the recipient of unusually large options trading on Monday. Traders purchased 3,641 put options on the stock. This represents an increase of approximately 68% compared to the average volume of 2,165 put options.

Direxion Daily S&P Biotech Bear 3X ETF Stock Down 3.2%

Direxion Daily S&P Biotech Bear 3X ETF stock opened at $7.25 on Tuesday. Direxion Daily S&P Biotech Bear 3X ETF has a one year low of $5.81 and a one year high of $37.74. The business has a fifty day moving average price of $7.26 and a 200-day moving average price of $10.96.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its position in shares of Direxion Daily S&P Biotech Bear 3X ETF by 68.9% during the second quarter. Squarepoint Ops LLC now owns 110,977 shares of the company’s stock valued at $856,000 after buying an additional 45,264 shares during the period. Capstone Capital Management Ltd bought a new position in shares of Direxion Daily S&P Biotech Bear 3X ETF in the first quarter valued at approximately $1,635,000. Finally, IMC Chicago LLC bought a new position in shares of Direxion Daily S&P Biotech Bear 3X ETF in the first quarter valued at approximately $204,000.

Direxion Daily S&P Biotech Bear 3X ETF Company Profile

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.