Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Reaches New 12-Month High – Still a Buy?

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 trading hands. The stock had previously closed at $159.31.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 10.4%

The business’s 50 day moving average is $151.29 and its 200-day moving average is $104.42.

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

Institutional investors have recently modified their holdings of the stock. Ethos Financial Group LLC raised its position 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 worth $515,000 after purchasing an additional 2,270 shares during the last quarter. Allworth Financial LP boosted its holdings in 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. RBF Capital LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth approximately $378,000. SG Americas Securities LLC increased its stake in Direxion Daily S&P Biotech Bull 3x Shares by 21.7% during the 2nd quarter. SG Americas Securities LLC now owns 3,561 shares of the company’s stock worth $203,000 after buying an additional 635 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 12.8% during the second quarter. SBI Securities Co. Ltd. now owns 3,388 shares of the company’s stock valued at $193,000 after acquiring an additional 385 shares during the last quarter.

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

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.