Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 1-Year High – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $186.25 and last traded at $175.81, with a volume of 1797531 shares changing hands. The stock had previously closed at $159.31.

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

The firm has a fifty day moving average of $152.75 and a 200 day moving average of $105.61.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LABU. McGuire Investment Group LLC boosted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 27.4% in the second quarter. McGuire Investment Group LLC now owns 5,028 shares of the company’s stock worth $286,000 after purchasing an additional 1,080 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 2nd quarter. Spire Wealth Management now owns 1,106 shares of the company’s stock valued at $63,000 after buying an additional 350 shares during the period. Ethos Financial Group LLC lifted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 33.5% during the 2nd quarter. Ethos Financial Group LLC now owns 9,055 shares of the company’s stock valued at $515,000 after buying an additional 2,270 shares during the period. Allworth Financial LP boosted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 1,777.8% in the 2nd quarter. Allworth Financial LP now owns 4,225 shares of the company’s stock worth $240,000 after buying an additional 4,000 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in shares of 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 worth $193,000 after acquiring an additional 385 shares during the period.

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.