Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Shares Down 7% – Here’s What Happened

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) fell 7% during trading on Tuesday . The company traded as low as $57.64 and last traded at $56.73. 514,762 shares traded hands during trading, a decline of 64% from the average session volume of 1,418,037 shares. The stock had previously closed at $60.97.

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

The company has a 50 day simple moving average of $83.01 and a two-hundred day simple moving average of $103.51.

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

The business also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a $0.1071 dividend. The ex-dividend date of this dividend was Tuesday, March 25th.

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

Institutional investors have recently modified their holdings of the stock. Dunhill Financial LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter valued at about $46,000. Spire Wealth Management acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter valued at approximately $68,000. SBI Securities Co. Ltd. bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth approximately $244,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $279,000. Finally, SG Americas Securities LLC increased its stake in shares of 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 purchasing an additional 193 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.