Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Reaches New 52-Week High – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $169.50 and last traded at $167.9060, with a volume of 88167 shares changing hands. The stock had previously closed at $166.04.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 0.3%

The firm’s 50-day moving average price is $126.88 and its 200-day moving average price is $86.96.

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

Several hedge funds have recently bought and sold shares of LABU. Qube Research & Technologies Ltd bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 68.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 506 shares of the company’s stock valued at $47,000 after buying an additional 206 shares in the last quarter. Spire Wealth Management increased its stake in Direxion Daily S&P Biotech Bull 3x Shares by 46.3% in the 2nd quarter. Spire Wealth Management now owns 1,106 shares of the company’s stock worth $63,000 after acquiring an additional 350 shares during the last quarter. Headlands Technologies LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter worth approximately $69,000. Finally, Bank of America Corp DE raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 134.2% during the 3rd quarter. Bank of America Corp DE now owns 2,476 shares of the company’s stock worth $232,000 after acquiring an additional 1,419 shares in 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.