Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Down 3.3%

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares dropped 3.3% on Friday . The stock traded as low as $112.84 and last traded at $113.55. Approximately 530,796 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,815,518 shares. The stock had previously closed at $117.39.

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

The stock’s 50 day moving average price is $112.60 and its 200-day moving average price is $110.14.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in LABU. Gateway Advisory LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at $366,000. Traynor Capital Management Inc. purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at about $325,000. Tower Research Capital LLC TRC boosted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 49,146.3% in the third quarter. Tower Research Capital LLC TRC now owns 352,111 shares of the company’s stock worth $1,342,000 after acquiring an additional 351,396 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $521,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $488,000.

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.