Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Up 6% – Here’s Why

Posted by Amber O'Connor on Oct 28th, 2024

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Free Report)’s share price rose 6% on Monday . The company traded as high as $127.98 and last traded at $127.72. Approximately 207,075 shares changed hands during trading, a decline of 90% from the average daily volume of 2,002,475 shares. The stock had previously closed at $120.47.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 3.8 %

The business’s 50-day moving average is $130.57 and its two-hundred day moving average is $119.58.

Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

A number of hedge funds have recently bought and sold shares of LABU. Tidal Investments LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares in the first quarter worth $1,858,000. Bank of New York Mellon Corp acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the 2nd quarter valued at about $596,000. Traynor Capital Management Inc. grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 73.8% during the 2nd quarter. Traynor Capital Management Inc. now owns 10,089 shares of the company’s stock valued at $1,144,000 after buying an additional 4,285 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 49.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,199 shares of the company’s stock valued at $412,000 after buying an additional 1,057 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in Direxion Daily S&P Biotech Bull 3x Shares by 25.3% during the second quarter. Foundations Investment Advisors LLC now owns 4,087 shares of the company’s stock worth $464,000 after acquiring an additional 825 shares during the period.

Direxion Daily S&P Biotech Bull 3x Shares Company Profile

(Get Free Report)

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.