Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading Down 5.6% – What’s Next?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s stock price dropped 5.6% during trading on Wednesday . The stock traded as low as $17.72 and last traded at $18.30. 62,096 shares were traded during mid-day trading, a decline of 28% from the average session volume of 86,416 shares. The stock had previously closed at $19.39.

Direxion Daily Dow Jones Internet Bear 3x Shares Price Performance

The firm’s 50-day moving average price is $19.14 and its two-hundred day moving average price is $22.51.

Institutional Trading of Direxion Daily Dow Jones Internet Bear 3x Shares

A hedge fund recently raised its stake in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Tower Research Capital LLC TRC grew its stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,350 shares of the company’s stock after acquiring an additional 23,795 shares during the quarter. Tower Research Capital LLC TRC owned about 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 at the end of the most recent quarter.

About Direxion Daily Dow Jones Internet Bear 3x Shares

The Direxion Daily Dow Jones Internet Bear 3X Shares (WEBS) is an exchange-traded fund that is based on the DJ Internet Composite index. The fund provides 3x daily inverse exposure to a market-cap-weighted index of the largest and most liquid U.S. Internet companies. WEBS was launched on Nov 7, 2019 and is managed by Direxion.