Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Stock Price Down 1% – Here’s Why

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s share price fell 1% on Wednesday . The stock traded as low as $13.90 and last traded at $14.24. 34,984 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 81,122 shares. The stock had previously closed at $14.39.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Performance

The stock has a 50-day moving average of $18.19 and a two-hundred day moving average of $21.82.

Institutional Investors Weigh In On 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 lifted its stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,350 shares of the company’s stock after purchasing an additional 23,795 shares during the quarter. Tower Research Capital LLC TRC owned 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.