Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading Down 5.5%

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) dropped 5.5% during mid-day trading on Monday . The company traded as low as $131.10 and last traded at $132.55. Approximately 989,581 shares were traded during trading, a decline of 54% from the average daily volume of 2,148,881 shares. The stock had previously closed at $140.24.

Direxion Daily S&P Biotech Bull 3x Shares Stock Down 6.9 %

The firm’s fifty day simple moving average is $133.20 and its 200-day simple moving average is $120.25.

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

Several institutional investors have recently bought and sold shares of LABU. Headlands Technologies LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth approximately $68,000. SG Americas Securities LLC lifted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 82.8% during the second quarter. SG Americas Securities LLC now owns 2,142 shares of the company’s stock worth $243,000 after buying an additional 970 shares during the period. Foundations Investment Advisors LLC boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 25.3% in the second quarter. Foundations Investment Advisors LLC now owns 4,087 shares of the company’s stock valued at $464,000 after buying an additional 825 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter valued at about $596,000. Finally, McGuire Investment Group LLC boosted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 11.4% during the first quarter. McGuire Investment Group LLC now owns 4,594 shares of the company’s stock worth $610,000 after buying an additional 470 shares in 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.