Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares gapped down prior to trading on Monday . The stock had previously closed at $293.84, but opened at $280.64. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $276.80, with a volume of 131,348 shares traded.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 0.4%

The company has a 50-day moving average of $215.96 and a 200 day moving average of $185.79.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $41,000. Covestor Ltd bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at about $71,000. Qube Research & Technologies Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth about $26,000. HighTower Advisors LLC increased its position in Direxion Daily S&P Biotech Bull 3x Shares by 39.8% in the fourth quarter. HighTower Advisors LLC now owns 3,510 shares of the company’s stock worth $559,000 after purchasing an additional 1,000 shares during the period. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth about $166,000.

About Direxion Daily S&P Biotech Bull 3x Shares

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.