Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 5.5% – Time to Buy?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) traded up 5.5% on Friday . The company traded as high as $268.86 and last traded at $268.86. Approximately 209,641 shares changed hands during trading, a decline of 66% from the average session volume of 616,241 shares. The stock had previously closed at $254.80.

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

The stock’s 50-day moving average is $220.34 and its 200 day moving average is $187.63.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Large investors have recently modified their holdings of the business. Ramsey Quantitative Systems acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the second quarter worth about $41,000. Covestor Ltd acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at approximately $71,000. Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 1st quarter worth approximately $166,000. Finally, Headlands Technologies LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth approximately $69,000.

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.