Short Interest in Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) Expands By 45.2%

Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 902,083 shares, an increase of 45.2% from the March 29th total of 621,158 shares. Based on an average trading volume of 2,584,623 shares, the days-to-cover ratio is presently 0.3 days.

Hedge funds have recently added to or reduced their stakes in the business. Traynor Capital Management Inc. grew its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 3.7% during the 1st quarter. Traynor Capital Management Inc. now owns 11,729 shares of the company’s stock valued at $702,000 after purchasing an additional 421 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at approximately $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of Direxion Daily S&P Biotech Bull 3x Shares during the 4th quarter valued at approximately $25,000. Morgan Stanley grew its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 1.5% during the 1st quarter. Morgan Stanley now owns 131,937 shares of the company’s stock valued at $7,901,000 after purchasing an additional 1,911 shares during the last quarter. Finally, Simplex Trading LLC grew its holdings in shares of Direxion Daily S&P Biotech Bull 3x Shares by 78.1% during the 1st quarter. Simplex Trading LLC now owns 12,789 shares of the company’s stock valued at $765,000 after purchasing an additional 5,609 shares during the last quarter.

LABU stock traded down $1.70 during mid-day trading on Friday, hitting $43.30. The stock had a trading volume of 2,128,686 shares, compared to its average volume of 3,225,012. Direxion Daily S&P Biotech Bull 3x Shares has a 52 week low of $24.00 and a 52 week high of $116.12.

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