Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Up to $124.14

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) gapped up prior to trading on Tuesday . The stock had previously closed at $124.14, but opened at $128.25. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $128.57, with a volume of 399,004 shares traded.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 6.8 %

The company’s 50 day moving average is $131.21 and its 200 day moving average is $101.01.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Hedge funds have recently added to or reduced their stakes in the business. Traynor Capital Management Inc. purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at about $325,000. UBS Group AG purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at about $351,000. Gateway Advisory LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $366,000. Advisor Group Holdings Inc. grew its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 64.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,190 shares of the company’s stock worth $50,000 after buying an additional 1,255 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $488,000.

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.