Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Down 4.7% – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) traded down 4.7% during trading on Tuesday . The company traded as low as $76.78 and last traded at $76.77. 479,842 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 1,435,292 shares. The stock had previously closed at $80.53.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 5.6 %

The business’s fifty day moving average is $85.61 and its two-hundred day moving average is $106.43.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $9,012,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter valued at about $3,043,000. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 177.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 27,048 shares of the company’s stock valued at $2,434,000 after buying an additional 17,315 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% in the 4th quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock valued at $1,323,000 after buying an additional 14,098 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% in 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 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.