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

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) gapped up prior to trading on Wednesday . The stock had previously closed at $289.98, but opened at $318.50. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $325.43, with a volume of 224,454 shares.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 11.1%

The firm’s 50-day moving average is $256.82 and its two-hundred day moving average is $201.83.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Capital Advisors LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $648,000. SLT Holdings LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $797,000. Foundations Investment Advisors LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $797,000. Covestor Ltd acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at approximately $71,000. Finally, HighTower Advisors LLC raised its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 39.8% in the 4th quarter. HighTower Advisors LLC now owns 3,510 shares of the company’s stock valued at $559,000 after acquiring an additional 1,000 shares during the period.

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.