Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sets New 1-Year Low – Here’s What Happened

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) hit a new 52-week low during trading on Tuesday . The stock traded as low as $79.37 and last traded at $86.48, with a volume of 2926146 shares traded. The stock had previously closed at $87.44.

Direxion Daily S&P Biotech Bull 3x Shares Stock Down 1.1 %

The stock has a 50 day moving average of $109.70 and a 200 day moving average of $121.87.

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

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock worth $625,000 after purchasing an additional 2,735 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth $279,000. Tidal Investments LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $9,012,000. Dunhill Financial LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $46,000. Finally, Traynor Capital Management Inc. boosted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.7% during the third quarter. Traynor Capital Management Inc. now owns 10,763 shares of the company’s stock valued at $1,386,000 after acquiring an additional 674 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.