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Asset Summary

Daily Performance Report for LABU ETF: Nov 21, 2024

Summary: The day started with LABU ETF opening at $106.25 and closing at $104.2. The ETF showed weakness throughout the day, with the highest price observed at $106.25 and the lowest at $103.5. The underlying asset had a trading range of $2.75 Overall, it was a negative trading day for LABU ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-2.05 or -1.93% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for LABU ETF was 3,467 units during Nov 21, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $106.25.

Highest Price: The highest price observed during the day was $106.25.

Lowest Price: The lowest price observed during the day was $103.5.

Closing Price: The day ended at $104.2.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

Yes, LABU can be held in retirement accounts such as IRAs or 401(k)s. However, due to its high-risk, leveraged nature, it’s crucial to assess how it fits within your overall investment strategy and risk tolerance.

LABU uses leverage to amplify its exposure to the biotechnology sector, targeting 3x the daily performance of the S&P Biotechnology Select Industry Index. Leverage can result in significant fluctuations in performance, especially over periods longer than one day due to compounding effects.

LABU rebalances its holdings daily to maintain its 3x leverage ratio relative to the S&P Biotechnology Select Industry Index. This daily rebalancing aims to achieve the 3x daily performance, though it can lead to performance deviations over longer periods due to the effects of compounding.

LABU typically distributes dividends on a quarterly basis. These dividends are derived from income produced by the underlying securities, although leveraged ETFs often have lower yields compared to non-leveraged funds.

LABU has an expense ratio of approximately 1.04%. This fee reflects the cost of managing the fund, including administrative and operational expenses, and is expressed as a percentage of the fund’s average net assets.

LABU aims to deliver three times the daily return of the S&P Biotechnology Select Industry Index. Due to its leveraged nature, its performance can significantly deviate from the index over periods longer than one day due to compounding effects and daily rebalancing.

Factors influencing LABU’s performance include movements in the biotechnology sector, changes in the S&P Biotechnology Select Industry Index, market volatility, and the effects of leverage. The ETF’s daily rebalancing and compounding effects also impact performance.

LABU is managed by Direxion and seeks to achieve its investment objective by using financial instruments such as derivatives, including futures contracts, options, and swap agreements. It maintains its 3x leverage through daily rebalancing.

Historical performance data for LABU includes past returns, NAV, and volatility. It’s important for investors to review performance charts and reports to understand how LABU has tracked its leveraged objective over different time periods.

Risks include high volatility and the potential for significant losses due to LABU’s leveraged exposure. The ETF’s performance is highly sensitive to daily changes in the biotech sector, and leverage can amplify both gains and losses.

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