Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sets New 12-Month High – Still a Buy?
by Michael Walen · The Markets DailyShares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $178.63 and last traded at $177.6020, with a volume of 445972 shares traded. The stock had previously closed at $165.53.
Direxion Daily S&P Biotech Bull 3x Shares Stock Performance
The stock’s 50 day simple moving average is $142.60 and its 200-day simple moving average is $97.09.
Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 68.7% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock worth $47,000 after purchasing an additional 206 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 46.3% during the second quarter. Spire Wealth Management now owns 1,106 shares of the company’s stock worth $63,000 after purchasing an additional 350 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth about $69,000. Finally, SBI Securities Co. Ltd. boosted its position in Direxion Daily S&P Biotech Bull 3x Shares by 12.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,388 shares of the company’s stock valued at $193,000 after buying an additional 385 shares during the last quarter.
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.