Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Gap Down – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $96.46, but opened at $90.66. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $89.66, with a volume of 330,972 shares traded.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 9.4 %

The company has a fifty day moving average price of $110.52 and a two-hundred day moving average price of $121.99.

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

Several institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth approximately $43,000. Dunhill Financial LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth approximately $46,000. Headlands Technologies LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 2nd quarter worth approximately $68,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth approximately $279,000. Finally, SG Americas Securities LLC lifted 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 worth $412,000 after buying an additional 1,057 shares during the period.

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.