Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 52-Week Low – Here’s Why

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

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 4.0 %

The firm has a fifty day moving average price of $84.80 and a 200 day moving average price of $105.08.

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

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

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

Several hedge funds have recently made changes to their positions in LABU. Dunhill Financial LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth approximately $46,000. Tidal Investments LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at $9,012,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth $279,000. JPMorgan Chase & Co. raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% during the third quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock worth $625,000 after acquiring an additional 2,735 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position 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 valued at $305,000 after purchasing an additional 193 shares during the last quarter.

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.