Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Shares Down 1.8% – Here’s Why

Shares of Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) traded down 1.8% on Wednesday . The company traded as low as $18.96 and last traded at $18.97. 77,319 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 87,905 shares. The stock had previously closed at $19.31.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Performance

The business has a 50-day moving average price of $23.77 and a 200-day moving average price of $22.79.

Hedge Funds 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 position in shares of Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,350 shares of the company’s stock after buying an additional 23,795 shares during the quarter. Tower Research Capital LLC TRC owned approximately 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 at the end of the most recent quarter.

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.