Direxion Daily S&P Biotech Bear 1X ETF
LABS
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- Dec 4, 2015
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion Daily S&P Biotech Bear 1X Shares (LABS) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 100% of the inverse (or opposite) of the daily performance of the S&P Biotechnology Select Industry Index; the fund invests at least 80% of its net assets in financial instruments, such as swap agreements, securities of the index, and ETFs that track the index, providing sophisticated investors with tactical short exposure to the U.S. biotechnology sector. Headquartered in New York at 1301 Avenue of the Americas, the fund operates under Direxion Shares ETF Trust, managed by Rafferty Asset Management, LLC, which issues a broad range of leveraged and inverse ETFs targeting equity sectors, including biotechnology bull and bear products like the related 3X counterparts LABU and LABD; it primarily serves institutional and retail traders focused on daily bearish bets in biotech equities comprising large-, mid-, and small-cap companies. Launched prior to 2020 with approximately 102 holdings and a concentration of 20.69% in its top 10 positions, LABS trades on U.S. exchanges and exhibits high volatility metrics, including a beta of -3.37 and 5-day volatility of 47.32%. In recent developments, ETF Database indicates LABS is no longer active, reflecting potential delisting or liquidation amid ongoing Direxion portfolio adjustments, such as reverse splits executed on September 26, 2025, for related funds including LABD and others like NVDD, EDZ, FAZ, and SPXS to consolidate share structure and maintain trading viability; no specific funding rounds, acquisitions, or new product launches directly tied to LABS were reported in 2024-2025, though Direxion continues expanding its single-stock and sector-leveraged offerings.