Put simply, imagine if LABU was around for those moves in XBI.
LABU and LABD will compete with ProShares Ultra Nasdaq Biotechnology (NasdaqGM: BIB) and the ProShares Ultrashort Nasdaq Biotechnology (NasdaqGM: BIS), the double-leveraged answers to the iShares Nasdaq Biotechnology ETF (NasdaqGS: IBB).
Direxion has had success with leveraged healthcare ETFs, namely the Direxion Daily Healthcare Bull 3x Shares (NYSEArca: CURE). CURE is one of the fastest-growing leveraged ETFs and was recently split 4-for-1, giving it a more approachable price tag of just under $40 at Wednesday’s close. [Biotech ETFs not out for Summer]
S&P Biotechnology Select Industry Index
Tables Courtesy: Direxion