Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Reaches New 1-Year High – Time to Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares hit a new 52-week high on Tuesday . The stock traded as high as $292.64 and last traded at $291.68, with a volume of 621039 shares traded. The stock had previously closed at $276.16.

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

The stock’s 50 day moving average is $192.04 and its 200-day moving average is $175.39.

Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares

Hedge funds have recently made changes to their positions in the business. Covestor Ltd bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $71,000. Qube Research & Technologies Ltd purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the first quarter worth approximately $166,000. Headlands Technologies LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth approximately $69,000. Finally, Bank of America Corp DE increased 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 worth $232,000 after acquiring an additional 1,419 shares during 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.