Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 6.5% – Here’s Why

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) were up 6.5% on Tuesday . The stock traded as high as $103.00 and last traded at $102.58. Approximately 363,079 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 850,135 shares. The stock had previously closed at $96.31.

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

The company has a 50 day moving average of $111.79 and a 200 day moving average of $122.34.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $9,012,000. Traynor Capital Management Inc. raised its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.7% during the 3rd quarter. Traynor Capital Management Inc. now owns 10,763 shares of the company’s stock valued at $1,386,000 after acquiring an additional 674 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth $596,000. JPMorgan Chase & Co. grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock worth $625,000 after buying an additional 2,735 shares during the period. Finally, McGuire Investment Group LLC boosted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 3.9% during the 3rd quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock worth $596,000 after acquiring an additional 175 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.