Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) Stock Short Interest Climbs 88.2%

Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 36,980 shares, a growth of 88.2% from the August 31st total of 19,647 shares. Approximately 7.4% of the shares of the company are short sold. Based on an average daily volume of 60,688 shares, the days-to-cover ratio is currently 0.6 days.

Direxion Daily Dow Jones Internet Bear 3X ETF Trading Up 6.1%

Direxion Daily Dow Jones Internet Bear 3X ETF stock opened at $14.71 on Tuesday. The firm has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $19.15. Direxion Daily Dow Jones Internet Bear 3X ETF has a 1-year low of $12.88 and a 1-year high of $33.25.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Direxion Daily Dow Jones Internet Bear 3X ETF stock. Citadel Advisors LLC boosted its position in Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) by 40.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.