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Asset Summary

Daily Performance Report for LABD ETF: Nov 8, 2024

Summary: The day started with LABD ETF opening at $5.1 and closing at $4.96. The ETF showed weakness throughout the day, with the highest price observed at $5.21 and the lowest at $4.94. The underlying asset had a trading range of $0.27 Overall, it was a negative trading day for LABD ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-0.14 or -2.75% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for LABD ETF was 25,352,273 units during Nov 8, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $5.1.

Highest Price: The highest price observed during the day was $5.21.

Lowest Price: The lowest price observed during the day was $4.94.

Closing Price: The day ended at $4.96.

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

Investors can buy shares of LABD through a brokerage account. The ETF is traded on major stock exchanges under the ticker symbol "LABD" and can be bought and sold like other stocks and ETFs.

LABD has an expense ratio of approximately 1.07%. This fee covers the costs of managing the fund, including administrative and operational expenses, expressed as a percentage of the fund’s average net assets.

LABD aims to deliver three times the inverse (-3x) of the daily performance of the S&P Biotechnology Select Industry Index. Over time, due to the effects of compounding and daily rebalancing, its performance may differ significantly from the index.

LABD is managed by Direxion Funds and employs leverage through financial instruments such as futures contracts, options, and swap agreements. The fund aims to maintain its -3x leverage ratio through daily rebalancing.

Similar ETFs to LABD include: LABU (Direxion Daily S&P Biotech Bull 3X Shares), which seeks to provide 3x the daily performance of the S&P Biotechnology Select Industry Index, the opposite of LABD’s objective; XBI (SPDR S&P Biotech ETF), which provides exposure to the biotechnology sector without leverage; and BIB (Direxion Daily S&P Biotech Bull 2X Shares), which provides 2x the daily performance of the S&P Biotechnology Select Industry Index, less leveraged compared to LABD.

LABD uses leverage to amplify its inverse exposure to the biotech sector, targeting -3x the daily performance of the S&P Biotechnology Select Industry Index. Leverage can lead to significant performance fluctuations, particularly over periods longer than one day due to compounding effects.

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

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

Historical performance data for LABD includes past returns, NAV, and volatility. Investors should review performance charts and reports to understand LABD's track record in achieving its leveraged inverse objective.

LABD rebalances its holdings daily to maintain its -3x leverage ratio relative to the S&P Biotechnology Select Industry Index. This daily rebalancing ensures that the ETF remains aligned with its -3x daily performance target, though it can result in performance deviations over longer periods due to compounding effects.

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