ETF traders, though, have been betting big on the biotechnology sector rebound with leveraged long options. For instance, the Direxion Daily S&P Biotech Bull Shares (NYSEArca: LABU), which takes the 3x or 300% daily performance of the S&P Biotechnology Select Industry Index, has attracted $138.2 million in net inflows year-to-date. Bets on the biotech sector have recently paid off, with LABU surging 52.3% over the past month.
Additionally, the UltraPro NASDAQ Biotechnology (NasdaqGM: UBIO), which takes the 3x daily performance of the Nasdaq Biotechnology Index, saw $16.9 million in inflows this year while the ProShares Ultra Nasdaq Biotechnology (NasdaqGM: BIB), which takes the 2x performance of the same benchmark, added $7 million. Over the past month, UBIO jumped 42.9% and BIB increased 27.9%.
[related_stories]Direxion Daily S&P Biotech Bull Shares