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

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 763,936 shares, an increase of 20.6% from the December 31st total of 633,330 shares. Currently, 20.8% of the company’s stock are sold short. Based on an average trading volume of 814,373 shares, the short-interest ratio is presently 0.9 days. Based on an average trading volume of 814,373 shares, the short-interest ratio is presently 0.9 days. Currently, 20.8% of the company’s stock are sold short.

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

A number of hedge funds and other institutional investors have recently modified their holdings of LABU. Tower Research Capital LLC TRC grew its position in Direxion Daily S&P Biotech Bull 3x Shares by 664.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 58,171 shares of the company’s stock valued at $5,445,000 after buying an additional 50,564 shares in the last quarter. IMC Chicago LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $3,806,000. Squarepoint Ops LLC grew its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 33.2% in the 2nd quarter. Squarepoint Ops LLC now owns 161,146 shares of the company’s stock worth $9,171,000 after purchasing an additional 40,157 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at approximately $3,208,000. Finally, Virtu Financial LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth $1,757,000.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 0.6%

Shares of NYSEARCA:LABU traded up $1.06 on Tuesday, reaching $177.31. 746,222 shares of the company’s stock were exchanged, compared to its average volume of 701,425. The business’s 50-day moving average is $166.82 and its two-hundred day moving average is $118.86. Direxion Daily S&P Biotech Bull 3x Shares has a fifty-two week low of $32.55 and a fifty-two week high of $198.18.

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.