Traders Purchase High Volume of Call Options on Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU)

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU – Get Rating) was the target of unusually large options trading on Wednesday. Stock investors bought 60,814 call options on the stock. This represents an increase of approximately 31% compared to the average daily volume of 46,411 call options.

Direxion Daily S&P Biotech Bull 3x Shares Stock Up 13.3 %

Shares of LABU stock opened at $6.20 on Thursday. Direxion Daily S&P Biotech Bull 3x Shares has a twelve month low of $4.06 and a twelve month high of $13.19. The business’s fifty day moving average is $5.49 and its 200 day moving average is $6.64.

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Hedge Funds Weigh In On Direxion Daily S&P Biotech Bull 3x Shares

Several institutional investors have recently added to or reduced their stakes in the company. IMC Chicago LLC purchased a new stake in Direxion Daily S&P Biotech Bull 3x Shares during the 3rd quarter worth approximately $684,000. Belvedere Trading LLC acquired a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $687,000. Foundations Investment Advisors LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 48.8% in the fourth quarter. Foundations Investment Advisors LLC now owns 47,250 shares of the company’s stock valued at $334,000 after buying an additional 15,500 shares during the last quarter. First Light Asset Management LLC purchased a new position in Direxion Daily S&P Biotech Bull 3x Shares in the third quarter valued at $6,013,000. Finally, Carmel Capital Partners LLC purchased a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the fourth quarter worth about $71,000.

About Direxion Daily S&P Biotech Bull 3x Shares

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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.

Further Reading

• Get a free copy of the StockNews.com research report on Direxion Daily S&P Biotech Bull 3x Shares (LABU)
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