Traynor Capital Management Inc. Reduces Position in Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)

Traynor Capital Management Inc. decreased its holdings in Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) by 20.2% during the 4th quarter, HoldingsChannel reports. The fund owned 8,586 shares of the company’s stock after selling 2,177 shares during the quarter. Traynor Capital Management Inc.’s holdings in Direxion Daily S&P Biotech Bull 3x Shares were worth $773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LABU. SG Americas Securities LLC raised its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock valued at $305,000 after purchasing an additional 193 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% in the third quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock worth $625,000 after buying an additional 2,735 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth $279,000. Tidal Investments LLC acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $9,012,000. Finally, Dunhill Financial LLC bought a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at $46,000.

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

LABU opened at $91.83 on Thursday. The company has a 50-day moving average of $102.95 and a 200-day moving average of $120.75. Direxion Daily S&P Biotech Bull 3x Shares has a 1-year low of $78.46 and a 1-year high of $176.99.

Direxion Daily S&P Biotech Bull 3x Shares 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.