Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sets New 12-Month High – Here’s Why

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) reached a new 52-week high during trading on Monday . The company traded as high as $178.63 and last traded at $177.6020, with a volume of 445972 shares traded. The stock had previously closed at $165.53.

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

The firm’s 50 day moving average is $138.73 and its 200-day moving average is $94.89.

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. CIBC Private Wealth Group LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at about $351,000. CIBC Bancorp USA Inc. bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at $445,000. Bank of America Corp DE raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 134.2% in the third quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after purchasing an additional 1,419 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter worth about $1,757,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 664.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock worth $5,445,000 after purchasing an additional 50,564 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.