Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 5.4% – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price shot up 5.4% during mid-day trading on Monday . The stock traded as high as $101.36 and last traded at $100.45. 691,640 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 1,470,370 shares. The stock had previously closed at $95.33.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 1.8 %

The firm’s fifty day moving average price is $101.49 and its 200-day moving average price is $119.70.

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

Hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at approximately $43,000. Dunhill Financial LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at $46,000. Spire Wealth Management acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at $68,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $279,000. Finally, SG Americas Securities LLC grew its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 49.3% in the 3rd quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock worth $412,000 after acquiring an additional 1,057 shares during 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.