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

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) gapped down prior to trading on Monday . The stock had previously closed at $69.07, but opened at $62.06. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $59.63, with a volume of 849,722 shares.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 15.1 %

The stock has a 50 day moving average price of $84.80 and a two-hundred day moving average price of $104.91.

Direxion Daily S&P Biotech Bull 3x Shares Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.1071 per share. The ex-dividend date is Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in Direxion Daily S&P Biotech Bull 3x Shares by 6.0% during the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock valued at $305,000 after purchasing an additional 193 shares during the last quarter. Dunhill Financial LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at approximately $46,000. Spire Wealth Management purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at approximately $68,000. B. Riley Wealth Advisors Inc. acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter worth approximately $279,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth $244,000.

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.