Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – Time to Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) gapped down before the market opened on Thursday . The stock had previously closed at $96.24, but opened at $94.00. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $94.42, with a volume of 203,924 shares traded.

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

The firm’s fifty day moving average is $117.83 and its 200-day moving average is $123.46.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth about $596,000. Foundations Investment Advisors LLC lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 25.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 4,087 shares of the company’s stock worth $464,000 after purchasing an additional 825 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter worth approximately $68,000. SG Americas Securities LLC boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 49.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock valued at $412,000 after purchasing an additional 1,057 shares during the period. Finally, McGuire Investment Group LLC grew its stake in Direxion Daily S&P Biotech Bull 3x Shares by 3.9% during the 3rd quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock worth $596,000 after buying an additional 175 shares during the last quarter.

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.