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)’s stock price gapped down prior to trading 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 changing hands.

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

The firm’s 50-day moving average price is $87.23 and its two-hundred day moving average price is $108.44.

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

Several hedge funds and other institutional investors have recently bought and sold shares of LABU. SG Americas Securities LLC grew its position 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 buying an additional 193 shares during the last quarter. Dunhill Financial LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $46,000. Spire Wealth Management acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at about $68,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at about $279,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth 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.