Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Up 6.5% – Should You Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares traded up 6.5% on Wednesday . The company traded as high as $101.60 and last traded at $101.37. 630,510 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,387,047 shares. The stock had previously closed at $95.15.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 6.7 %

The business has a fifty day simple moving average of $99.69 and a 200 day simple moving average of $118.22.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Large investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at $9,012,000. Traynor Capital Management Inc. boosted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 6.7% in the 3rd quarter. Traynor Capital Management Inc. now owns 10,763 shares of the company’s stock valued at $1,386,000 after purchasing an additional 674 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 valued at $625,000 after purchasing an additional 2,735 shares during the period. McGuire Investment Group LLC raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 3.9% in the 3rd quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock valued at $596,000 after acquiring an additional 175 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 13.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,617 shares of the company’s stock valued at $594,000 after acquiring 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.