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

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $69.07, but opened at $62.06. Direxion Daily S&P Biotech Bull 3x Shares shares last traded at $59.63, with a volume of 849,722 shares trading hands.

Direxion Daily S&P Biotech Bull 3x Shares Trading Down 15.1 %

The business has a 50-day moving average price of $84.80 and a two-hundred day moving average price of $104.91.

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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dunhill Financial LLC acquired a new position in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth $46,000. Spire Wealth Management acquired a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the fourth quarter worth about $68,000. SBI Securities Co. Ltd. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 4th quarter valued at about $244,000. B. Riley Wealth Advisors Inc. bought a new position in Direxion Daily S&P Biotech Bull 3x Shares in the 3rd quarter valued at about $279,000. Finally, SG Americas Securities LLC increased its stake 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 valued at $305,000 after buying an additional 193 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.