Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Short Interest Update

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 776,283 shares, a growth of 41.2% from the January 29th total of 549,900 shares. Based on an average trading volume of 2,819,459 shares, the days-to-cover ratio is presently 0.3 days. Currently, 19.9% of the company’s stock are short sold. Currently, 19.9% of the company’s stock are short sold. Based on an average trading volume of 2,819,459 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Simplex Trading LLC bought a new position in Direxion Daily S&P Biotech Bear 3x Shares in the fourth quarter valued at about $48,000. JPMorgan Chase & Co. lifted its stake in shares of Direxion Daily S&P Biotech Bear 3x Shares by 655.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,803 shares of the company’s stock valued at $275,000 after buying an additional 5,903 shares in the last quarter. Csenge Advisory Group bought a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares in the third quarter worth about $271,000. Scientech Research LLC bought a new position in Direxion Daily S&P Biotech Bear 3x Shares in the 3rd quarter worth approximately $290,000. Finally, Envestnet Asset Management Inc. purchased a new position in Direxion Daily S&P Biotech Bear 3x Shares during the second quarter valued at $84,000.

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

Shares of LABD stock opened at $17.68 on Monday. The company’s 50-day moving average is $19.08 and its 200 day moving average is $30.37. Direxion Daily S&P Biotech Bear 3x Shares has a one year low of $16.16 and a one year high of $160.50.

Direxion Daily S&P Biotech Bear 3x Shares Company Profile

The Direxion Daily S&P Biotech Bear 3X Shares (LABD) is an exchange-traded fund that is based on the S&P Biotechnology Select Industry index. The fund provides daily 3 times inverse exposure to the S&P Biotechnology Select Industry Index. LABD was launched on May 28, 2015 and is managed by Direxion.