Short Interest in Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) Grows By 19.6%

Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 543,357 shares, an increase of 19.6% from the December 31st total of 454,448 shares. Based on an average trading volume of 2,967,702 shares, the short-interest ratio is currently 0.2 days. Approximately 15.3% of the company’s stock are sold short. Approximately 15.3% of the company’s stock are sold short. Based on an average trading volume of 2,967,702 shares, the short-interest ratio is currently 0.2 days.

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

Shares of LABD traded down $0.13 during midday trading on Tuesday, hitting $17.90. The stock had a trading volume of 3,766,375 shares, compared to its average volume of 2,844,893. The company has a 50 day simple moving average of $20.26 and a two-hundred day simple moving average of $36.54. Direxion Daily S&P Biotech Bear 3x Shares has a twelve month low of $16.25 and a twelve month high of $160.50.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in Direxion Daily S&P Biotech Bear 3x Shares in the third quarter valued at $5,063,000. Jump Financial LLC increased its position in shares of Direxion Daily S&P Biotech Bear 3x Shares by 107.7% in the second quarter. Jump Financial LLC now owns 174,239 shares of the company’s stock valued at $1,303,000 after acquiring an additional 90,333 shares during the last quarter. Group One Trading LLC acquired a new position in Direxion Daily S&P Biotech Bear 3x Shares during the second quarter valued at approximately $337,000. Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily S&P Biotech Bear 3x Shares during the 3rd quarter worth approximately $983,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Direxion Daily S&P Biotech Bear 3x Shares during the 3rd quarter worth approximately $893,000.

About Direxion Daily S&P Biotech Bear 3x Shares

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.