Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) Stock Jumps 0.2% – Still a Buy?

Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS)’s stock price traded up 0.2% on Tuesday. The company traded as high as $14.71 and last traded at $14.30. Approximately 23,210 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 71,398 shares. The stock had previously closed at $14.27.

Direxion Daily Dow Jones Internet Bear 3X ETF Trading Up 6.9%

The stock’s 50-day moving average is $14.20 and its two-hundred day moving average is $17.33.

Institutional Investors Weigh In On Direxion Daily Dow Jones Internet Bear 3X ETF

An institutional investor recently raised its position in Direxion Daily Dow Jones Internet Bear 3X ETF stock. Citadel Advisors LLC boosted its holdings in shares of Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) by 40.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,673 shares of the company’s stock after purchasing an additional 9,191 shares during the quarter. Citadel Advisors LLC owned about 7.04% of Direxion Daily Dow Jones Internet Bear 3X ETF worth $614,000 at the end of the most recent quarter.

Direxion Daily Dow Jones Internet Bear 3X ETF Company Profile

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.