Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading Up 5.3% – What’s Next?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) traded up 5.3% during mid-day trading on Wednesday . The stock traded as high as $20.15 and last traded at $20.11. 139,531 shares were traded during trading, an increase of 62% from the average session volume of 86,044 shares. The stock had previously closed at $19.09.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Performance

The company’s 50 day moving average is $20.65 and its 200 day moving average is $22.56.

Institutional Investors 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 Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% in the 2nd quarter, according to its most recent Form 13F 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 about 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 as of its most recent SEC filing.

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.