Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 1-Year Low – What’s Next?

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) reached a new 52-week low during trading on Friday . The stock traded as low as $68.01 and last traded at $68.78, with a volume of 521838 shares changing hands. The stock had previously closed at $71.98.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 5.4 %

The stock’s 50-day simple moving average is $85.07 and its two-hundred day simple moving average is $105.63.

Direxion Daily S&P Biotech Bull 3x Shares Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be given a dividend of $0.1071 per share. The ex-dividend date of this dividend is Tuesday, March 25th.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after acquiring an additional 193 shares during the last quarter. Dunhill Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at about $46,000. Spire Wealth Management acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $68,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at approximately $279,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth approximately $244,000.

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.