Direxion Daily S&P Biotech Bull 3X ETF (NYSEARCA:LABU) Trading Up 6% – Still a Buy?

Direxion Daily S&P Biotech Bull 3X ETF (NYSEARCA:LABU) was up 6% during trading on Tuesday . The stock traded as high as $286.00 and last traded at $286.0050. Approximately 92,019 shares were traded during trading, a decline of 83% from the average session volume of 552,065 shares. The stock had previously closed at $269.82.

Direxion Daily S&P Biotech Bull 3X ETF Stock Up 7.4%

The business’s 50 day moving average price is $276.90 and its two-hundred day moving average price is $223.33.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3X ETF

Several hedge funds have recently modified their holdings of LABU. Foundations Investment Advisors LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3X ETF during the 4th quarter worth approximately $797,000. SLT Holdings LLC acquired a new position in Direxion Daily S&P Biotech Bull 3X ETF in the 4th quarter valued at approximately $797,000. Revere Asset Management Inc bought a new position in shares of Direxion Daily S&P Biotech Bull 3X ETF during the second quarter valued at $666,000. Valued Retirements Inc. bought a new position in shares of Direxion Daily S&P Biotech Bull 3X ETF during the second quarter valued at $454,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3X ETF during the first quarter worth $166,000.

About Direxion Daily S&P Biotech Bull 3X ETF

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.