Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Up – Time to Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $79.31, but opened at $84.97. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $86.15, with a volume of 1,027,514 shares.

Direxion Daily S&P Biotech Bull 3x Shares Stock Performance

The company’s fifty day moving average price is $107.52 and its two-hundred day moving average price is $121.37.

Institutional Trading of 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 shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth approximately $43,000. Dunhill Financial LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at approximately $46,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at approximately $279,000. SG Americas Securities LLC increased its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 49.3% in the third quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock valued at $412,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 13.0% in the third quarter. Foundations Investment Advisors LLC now owns 4,617 shares of the company’s stock valued at $594,000 after purchasing an additional 530 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.