Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading 10.3% Higher – Should You Buy?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) shares rose 10.3% on Tuesday . The company traded as high as $24.56 and last traded at $24.01. Approximately 75,928 shares traded hands during mid-day trading, an increase of 115% from the average daily volume of 35,319 shares. The stock had previously closed at $21.77.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Up 10.3%

The company’s fifty day moving average price is $20.57 and its two-hundred day moving average price is $19.69.

Hedge Funds Weigh In On Direxion Daily Dow Jones Internet Bear 3x Shares

A hedge fund recently bought a new stake in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Bank of America Corp DE purchased a new stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 700 shares of the company’s stock, valued at approximately $25,000.

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.