Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Up to $6.42

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Rating)’s share price gapped up prior to trading on Friday . The stock had previously closed at $6.42, but opened at $6.59. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $6.57, with a volume of 11,639,033 shares.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 2.8 %

The business’s 50 day moving average is $5.58 and its 200 day moving average is $6.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its stake in Direxion Daily S&P Biotech Bull 3x Shares by 64.9% in the first quarter. Advisor Group Holdings Inc. now owns 3,190 shares of the company’s stock worth $50,000 after purchasing an additional 1,255 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth $70,000. Spire Wealth Management lifted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 66.7% during the fourth quarter. Spire Wealth Management now owns 10,000 shares of the company’s stock worth $71,000 after buying an additional 4,000 shares during the period. Carmel Capital Partners LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth $71,000. Finally, Second Half Financial Partners LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth $84,000.

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

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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.