Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Down 5.9%

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) fell 5.9% on Thursday . The company traded as low as $108.52 and last traded at $108.93. 787,591 shares were traded during trading, a decline of 71% from the average session volume of 2,760,102 shares. The stock had previously closed at $115.71.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 11.5 %

The company’s fifty day moving average is $110.96 and its two-hundred day moving average is $111.26.

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

Several large investors have recently bought and sold shares of LABU. Traynor Capital Management Inc. purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth approximately $325,000. Gateway Advisory LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth $366,000. Sheaff Brock Investment Advisors LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth $488,000. Jump Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth about $521,000. Finally, McGuire Investment Group LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 11.4% in the first quarter. McGuire Investment Group LLC now owns 4,594 shares of the company’s stock valued at $610,000 after buying an additional 470 shares during 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.