To LABU’s credit, though this is not an endorsement of holding such an ETF over long time frames, the fund has delivered better than triple XBI’s gains since debuting. XBI is higher by 9.8% since LABU came to market.
With Monday’s pop, LABU is in the midst of a six-day winning streak. LABU now has 18 trading days under its belt and has finished higher on 12 of those days. Monday was the biggest volume day in the ETF by nearly 50% over the 324,500 shares that changes hands in the rookie fund on June 17. LABU was one of eight biotech ETFs that made new highs yesterday.
For those bold enough to bet on biotech retrenchment, LABU has a bearish cousin, the Direxion Daily S&P Biotech Bear Shares (NYSEArca: LABD).
Direxion Daily S&P Biotech Bull Shares
Table Courtesy: Direxion