Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Reaches New 1-Year Low – Time to Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $79.37 and last traded at $86.48, with a volume of 2926146 shares. The stock had previously closed at $87.44.

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

The business’s 50 day simple moving average is $108.63 and its 200 day simple moving average is $121.63.

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

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $9,012,000. Traynor Capital Management Inc. boosted its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.7% in the 3rd quarter. Traynor Capital Management Inc. now owns 10,763 shares of the company’s stock worth $1,386,000 after acquiring an additional 674 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth approximately $596,000. JPMorgan Chase & Co. increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 129.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock valued at $625,000 after purchasing an additional 2,735 shares in the last quarter. Finally, McGuire Investment Group LLC raised its position in Direxion Daily S&P Biotech Bull 3x Shares by 3.9% in the 3rd quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock valued at $596,000 after purchasing an additional 175 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.