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 Price Performance

The business has a 50 day simple moving average of $23.77 and a two-hundred day simple moving average of $22.79.

Institutional Trading of Direxion Daily Dow Jones Internet Bear 3x Shares

An institutional investor recently raised its position in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Tower Research Capital LLC TRC grew its holdings in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,350 shares of the company’s stock after purchasing an additional 23,795 shares during the period. 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 filing with the Securities & Exchange Commission.

Direxion Daily Dow Jones Internet Bear 3x Shares 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.