Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Sees Significant Growth in Short Interest

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 454,448 shares, a growth of 19.6% from the December 15th total of 380,079 shares. Based on an average daily trading volume, of 2,273,158 shares, the short-interest ratio is presently 0.2 days. Approximately 14.4% of the company’s shares are short sold. Approximately 14.4% of the company’s shares are short sold. Based on an average daily trading volume, of 2,273,158 shares, the short-interest ratio is presently 0.2 days.

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

A number of large investors have recently modified their holdings of LABD. JPMorgan Chase & Co. grew its position in Direxion Daily S&P Biotech Bear 3x Shares by 655.9% in the third quarter. JPMorgan Chase & Co. now owns 6,803 shares of the company’s stock valued at $275,000 after acquiring an additional 5,903 shares in the last quarter. Csenge Advisory Group acquired a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares during the third quarter worth $271,000. Scientech Research LLC purchased a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares in the third quarter valued at $290,000. Envestnet Asset Management Inc. acquired a new stake in Direxion Daily S&P Biotech Bear 3x Shares during the 2nd quarter valued at $84,000. Finally, Tower Research Capital LLC TRC grew its holdings in Direxion Daily S&P Biotech Bear 3x Shares by 87.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 41,202 shares of the company’s stock valued at $308,000 after purchasing an additional 19,276 shares in the last quarter.

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

LABD traded up $0.10 during trading on Monday, hitting $19.70. 1,676,266 shares of the company’s stock were exchanged, compared to its average volume of 2,850,224. The stock has a 50 day moving average price of $22.11 and a 200 day moving average price of $40.19. Direxion Daily S&P Biotech Bear 3x Shares has a 1 year low of $17.43 and a 1 year high of $160.50.

Direxion Daily S&P Biotech Bear 3x Shares Company Profile

The Direxion Daily S&P Biotech Bear 3X Shares (LABD) is an exchange-traded fund that is based on the S&P Biotechnology Select Industry index. The fund provides daily 3 times inverse exposure to the S&P Biotechnology Select Industry Index. LABD was launched on May 28, 2015 and is managed by Direxion.