Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Short Interest Update

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 763,936 shares, a growth of 20.6% from the December 31st total of 633,330 shares. Based on an average daily volume of 814,373 shares, the days-to-cover ratio is currently 0.9 days. Currently, 20.8% of the company’s shares are sold short. Currently, 20.8% of the company’s shares are sold short. Based on an average daily volume of 814,373 shares, the days-to-cover ratio is currently 0.9 days.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 5.6%

NYSEARCA LABU traded down $9.94 during trading hours on Wednesday, reaching $167.37. 669,773 shares of the company’s stock traded hands, compared to its average volume of 698,628. Direxion Daily S&P Biotech Bull 3x Shares has a 52-week low of $32.55 and a 52-week high of $198.18. The firm has a 50-day simple moving average of $167.17 and a 200 day simple moving average of $119.67.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LABU. RBF Capital LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at $378,000. Ethos Financial Group LLC boosted its holdings 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 valued at $515,000 after purchasing an additional 2,270 shares during the last quarter. Allworth Financial LP grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 1,777.8% during the second quarter. Allworth Financial LP now owns 4,225 shares of the company’s stock valued at $240,000 after purchasing an additional 4,000 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 12.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,388 shares of the company’s stock worth $193,000 after purchasing an additional 385 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 21.7% in the second 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.

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.