Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Down 5.3% – Time to Sell?

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) fell 5.3% on Tuesday . The company traded as low as $72.68 and last traded at $71.05. 224,192 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,300,976 shares. The stock had previously closed at $75.01.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 5.7 %

The stock has a fifty day simple moving average of $88.35 and a 200-day simple moving average of $109.98.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 2,334.1% during the 4th quarter. Bank of America Corp DE now owns 14,702 shares of the company’s stock worth $1,323,000 after purchasing an additional 14,098 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth approximately $323,000. Tower Research Capital LLC TRC raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 177.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 27,048 shares of the company’s stock valued at $2,434,000 after purchasing an additional 17,315 shares during the last quarter. Virtu Financial LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at $3,043,000. Finally, SBI Securities Co. Ltd. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at $244,000.

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.