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

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) gapped down before the market opened on Tuesday . The stock had previously closed at $80.14, but opened at $77.15. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $74.70, with a volume of 364,511 shares trading hands.

Direxion Daily S&P Biotech Bull 3x Shares Stock Down 5.3 %

The company has a fifty day moving average price of $87.23 and a 200-day moving average price of $108.44.

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 company. Tidal Investments LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $9,012,000. Virtu Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $3,043,000. Tower Research Capital LLC TRC grew its stake in Direxion Daily S&P Biotech Bull 3x Shares by 177.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,048 shares of the company’s stock valued at $2,434,000 after acquiring an additional 17,315 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 acquiring an additional 14,098 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 2,735 shares in the last quarter.

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.