Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Trading 4% Higher

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shot up 4% during trading on Monday . The stock traded as high as $119.00 and last traded at $117.99. 365,144 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 2,548,667 shares. The stock had previously closed at $113.44.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 1.3 %

The firm’s 50 day simple moving average is $106.88 and its 200 day simple moving average is $118.31.

Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares

Hedge funds have recently bought and sold shares of the stock. Traynor Capital Management Inc. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth about $325,000. Gateway Advisory LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter worth about $366,000. Sheaff Brock Investment Advisors LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at about $488,000. Jump Financial LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at about $521,000. Finally, McGuire Investment Group LLC grew its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 11.4% during the 1st quarter. McGuire Investment Group LLC now owns 4,594 shares of the company’s stock valued at $610,000 after purchasing an additional 470 shares during 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.