Direxion Daily S&P Biotech Bull 3x Shares Stock Set to Reverse Split on Monday, December 4th (NYSEARCA:LABU)

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) are set to reverse split on Monday, December 4th. The 1-20 reverse split was announced on Monday, December 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 4th.

Direxion Daily S&P Biotech Bull 3x Shares Price Performance

NYSEARCA LABU opened at $3.46 on Friday. The company’s fifty day simple moving average is $3.44 and its 200-day simple moving average is $5.10. Direxion Daily S&P Biotech Bull 3x Shares has a 52 week low of $2.42 and a 52 week high of $9.40.

Institutional Trading of Direxion Daily S&P Biotech Bull 3x Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in LABU. Jane Street Group LLC increased its stake in Direxion Daily S&P Biotech Bull 3x Shares by 5,306.9% during the fourth quarter. Jane Street Group LLC now owns 725,171 shares of the company’s stock valued at $5,127,000 after purchasing an additional 711,759 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the first quarter valued at $1,740,000. Tower Research Capital LLC TRC increased its stake in Direxion Daily S&P Biotech Bull 3x Shares by 49,146.3% during the third quarter. Tower Research Capital LLC TRC now owns 352,111 shares of the company’s stock valued at $1,342,000 after purchasing an additional 351,396 shares during the last quarter. GTS Securities LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the second quarter valued at $1,533,000. Finally, Simplex Trading LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter valued at $949,000.

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.