Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Hits New 1-Year Low – What’s Next?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) reached a new 52-week low on Friday . The company traded as low as $68.01 and last traded at $68.78, with a volume of 521838 shares. The stock had previously closed at $71.98.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 5.4 %

The business has a 50-day moving average of $85.07 and a 200-day moving average of $105.63.

Direxion Daily S&P Biotech Bull 3x Shares Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be given a dividend of $0.1071 per share. The ex-dividend date of this dividend is Tuesday, March 25th.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Direxion Daily S&P Biotech Bull 3x Shares by 129.3% during the third quarter. JPMorgan Chase & Co. now owns 4,851 shares of the company’s stock worth $625,000 after purchasing an additional 2,735 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 6.0% during the 4th quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock worth $305,000 after buying an additional 193 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter worth $9,012,000. SBI Securities Co. Ltd. purchased a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth $244,000. Finally, Virtu Financial LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at $3,043,000.

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.