Short Interest in Direxion Daily CSI China Internet Index Bull 2x Shares (NYSEARCA:CWEB) Drops By 20.9%

Direxion Daily CSI China Internet Index Bull 2x Shares (NYSEARCA:CWEB) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 775,399 shares, a decline of 20.9% from the March 31st total of 980,789 shares. Based on an average daily volume of 403,109 shares, the days-to-cover ratio is presently 1.9 days. Currently, 8.4% of the company’s stock are sold short.

Direxion Daily CSI China Internet Index Bull 2x Shares Trading Up 0.2%

CWEB stock traded up $0.05 during midday trading on Friday, hitting $27.03. 290,056 shares of the company’s stock were exchanged, compared to its average volume of 486,084. Direxion Daily CSI China Internet Index Bull 2x Shares has a 12-month low of $25.18 and a 12-month high of $61.24. The firm has a 50 day moving average price of $28.97 and a 200-day moving average price of $39.31. The stock has a market capitalization of $251.92 million, a price-to-earnings ratio of 17.82 and a beta of 0.83.

Institutional Investors Weigh In On Direxion Daily CSI China Internet Index Bull 2x Shares

Institutional investors have recently made changes to their positions in the company. IMC Chicago LLC bought a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the 3rd quarter valued at approximately $1,329,000. Group One Trading LLC bought a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the 3rd quarter valued at approximately $11,623,000. Quadrature Capital Ltd bought a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the 4th quarter valued at approximately $4,655,000. HRT Financial LP bought a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the 4th quarter valued at approximately $220,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the 4th quarter valued at approximately $983,000.

Direxion Daily CSI China Internet Index Bull 2x Shares Company Profile

The Direxion Daily CSI China Internet Bull 2X Shares (CWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund provides 2x leveraged daily exposure to an index composed of overseas-listed Chinese internet companies. CWEB was launched on Nov 2, 2016 and is managed by Direxion.