Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Stock Price Down 8.8% – Time to Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) fell 8.8% during mid-day trading on Friday . The company traded as low as $105.81 and last traded at $107.80. 651,641 shares were traded during trading, a decline of 66% from the average session volume of 1,939,834 shares. The stock had previously closed at $118.16.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 15.7 %

The firm’s 50-day moving average price is $128.25 and its two-hundred day moving average price is $122.93.

Institutional Investors Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dunhill Financial LLC purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $46,000. Traynor Capital Management Inc. raised its stake in 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 valued at $1,386,000 after purchasing an additional 674 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 13.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,617 shares of the company’s stock valued at $594,000 after purchasing an additional 530 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at about $43,000. Finally, McGuire Investment Group LLC boosted its stake in shares of Direxion Daily S&P Biotech Bull 3x Shares by 3.9% during the 3rd quarter. McGuire Investment Group LLC now owns 4,633 shares of the company’s stock worth $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.