Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 12-Month Low – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s share price reached a new 52-week low on Thursday . The stock traded as low as $52.75 and last traded at $59.43, with a volume of 1936691 shares traded. The stock had previously closed at $54.33.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 17.1 %

The stock’s fifty day moving average price is $81.13 and its 200-day moving average price is $102.51.

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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LABU. Dunhill Financial LLC purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at approximately $46,000. Tidal Investments LLC acquired a new stake 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. purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at $279,000. JPMorgan Chase & Co. increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% in 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 during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of 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 acquiring an additional 193 shares in 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.