Direxion Daily S&P Biotech Bull 3X ETF (NYSEARCA:LABU) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Shares of Direxion Daily S&P Biotech Bull 3X ETF (NYSEARCA:LABU) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $217.76 and traded as low as $207.50. Direxion Daily S&P Biotech Bull 3X ETF shares last traded at $208.62, with a volume of 631,633 shares traded.

Direxion Daily S&P Biotech Bull 3X ETF Stock Performance

The stock has a 50-day simple moving average of $254.12 and a 200 day simple moving average of $217.76.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LABU. Revere Asset Management Inc acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3X ETF during the second quarter worth about $666,000. StoneX Group Inc. purchased a new stake in Direxion Daily S&P Biotech Bull 3X ETF in the third quarter valued at approximately $241,000. Halbert Hargrove Global Advisors LLC acquired a new position in Direxion Daily S&P Biotech Bull 3X ETF in the 3rd quarter worth approximately $266,000. Valued Retirements Inc. acquired a new position in Direxion Daily S&P Biotech Bull 3X ETF in the 2nd quarter worth approximately $454,000. Finally, Ramsey Quantitative Systems acquired a new position in Direxion Daily S&P Biotech Bull 3X ETF in the 2nd quarter worth approximately $41,000.

Direxion Daily S&P Biotech Bull 3X ETF 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.