Not that it went it anywhere, but the Direxion Daily S&P Biotech Bull 3X Shares (NYSE: LABU) has come roaring back with vengeance this month. LABU, the triple-leveraged answer to the SPDR S&P Biotech ETF (NYSE: XBI), entered Monday with a month-to-date gain of almost 34 percent.
After surging 4.3 percent on heavy volume Monday, LABU is the second-best performer among Direxion's leveraged bullish ETFs this month with a gain of over 38 percent. That is an impressive run for an ETF that at one point earlier this month was sporting a year-to-date loss of about 67 percent and was reverse split earlier this year.
LABU's recent resurgence and those experienced by other biotech ETFs, leveraged or otherwise, are made all the more impressive when considering this is an election year. An election year in which it looks ...
/www.benzinga.com/general/biotech/16/04/7853976/return-of-the-mack-this-biotech-etf-is-back alt=Return Of The Mack: This Biotech ETF Is Back>Full story available on Benzinga.com
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