Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Sets New 52-Week Low – Time to Sell?

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $69.61 and last traded at $74.61, with a volume of 1298234 shares trading hands. The stock had previously closed at $75.01.

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

The company has a 50-day moving average of $88.61 and a 200-day moving average of $110.22.

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

Several large investors have recently made changes to their positions in LABU. Dunhill Financial LLC acquired a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the third quarter worth about $46,000. Spire Wealth Management bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at approximately $68,000. SBI Securities Co. Ltd. acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter worth approximately $244,000. 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 raised its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 6.0% in the fourth quarter. SG Americas Securities LLC now owns 3,392 shares of the company’s stock valued at $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.