Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – Should You Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares gapped down before the market opened on Tuesday . The stock had previously closed at $80.14, but opened at $77.15. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $74.70, with a volume of 364,511 shares trading hands.

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

The business’s 50 day moving average price is $86.37 and its two-hundred day moving average price is $107.75.

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

Large investors have recently modified their holdings of the stock. Dunhill Financial LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $46,000. Spire Wealth Management bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $68,000. SBI Securities Co. Ltd. bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $244,000. B. Riley Wealth Advisors Inc. bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $279,000. Finally, SG Americas Securities LLC boosted its stake in Direxion Daily S&P Biotech Bull 3x Shares by 6.0% during the fourth quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after acquiring an additional 193 shares in 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.