Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares gapped down prior to trading on Monday . The stock had previously closed at $69.07, but opened at $62.06. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $59.63, with a volume of 849,722 shares traded.

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

The stock has a 50-day moving average price of $83.66 and a two-hundred day moving average price of $103.82.

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

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a $0.1071 dividend. The ex-dividend date was Tuesday, March 25th.

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

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings 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 buying an additional 193 shares during the period. Dunhill Financial LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth about $46,000. Spire Wealth Management acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth approximately $68,000. B. Riley Wealth Advisors Inc. purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $279,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $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.