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Traders Bet Against Hillary With Leveraged Biotech ETF

Benzinga.com
0 Comments| September 23, 2015

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This week has been tumultuous one for biotechnology stocks and exchange traded funds, thanks in large part to a Monday tweet by presidential candidate Hillary Clinton excoriating the pharmaceuticals industry for price gouging.

That was bad news for biotech stocks and ETFs, as well. For two consecutive days, biotech funds have been among the worst-performing ETFs on a percentage basis. And for two consecutive days, the Direxion Daily S&P Biotech Bear 3X Shares (NYSE: LABD) has been the top-performing ETF on a percentage basis. After surging more than 16 percent on Monday, LABD climbed 6.4 percent Tuesday on volume that was roughly two and a half times the daily average.

Some traders are betting Clinton's impact on biotech stocks has an imminent expiration because data indicate traders are piling into LABD's ...

/www.benzinga.com/general/biotech/15/09/5858391/traders-bet-against-hillary-with-leveraged-biotech-etf alt=Traders Bet Against Hillary With Leveraged Biotech ETF>Full story available on Benzinga.com

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