Direxion Daily S&P Biotech Bull 3x Shares Stock Set to Reverse Split on Monday, December 4th (NYSEARCA:LABU)

Shares of Direxion Daily S&P Biotech Bull 3x Shares (NYSEARCA:LABU) are set to reverse split on the morning of Monday, December 4th. The 1-20 reverse split was announced on Monday, December 4th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 4th.

Direxion Daily S&P Biotech Bull 3x Shares Trading Up 10.5 %

Direxion Daily S&P Biotech Bull 3x Shares stock opened at $3.46 on Friday. Direxion Daily S&P Biotech Bull 3x Shares has a 12 month low of $2.42 and a 12 month high of $9.40. The stock has a 50-day moving average price of $3.44 and a two-hundred day moving average price of $5.10.

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

Hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Direxion Daily S&P Biotech Bull 3x Shares during the first quarter worth about $74,000. Formidable Asset Management LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 16.0% in the first quarter. Formidable Asset Management LLC now owns 29,330 shares of the company’s stock worth $145,000 after purchasing an additional 4,050 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth approximately $260,000. SG Americas Securities LLC increased its holdings in Direxion Daily S&P Biotech Bull 3x Shares by 158.1% in the second quarter. SG Americas Securities LLC now owns 78,810 shares of the company’s stock worth $467,000 after purchasing an additional 48,280 shares in the last quarter. Finally, Pursue Wealth Partners LLC bought a new stake in Direxion Daily S&P Biotech Bull 3x Shares in the second quarter worth approximately $89,000.

About Direxion Daily S&P Biotech Bull 3x Shares

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.