Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Shares Down 1% – Here’s Why

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) traded down 1% during trading on Wednesday . The stock traded as low as $13.90 and last traded at $14.24. 34,984 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 81,122 shares. The stock had previously closed at $14.39.

Direxion Daily Dow Jones Internet Bear 3x Shares Price Performance

The stock has a 50-day simple moving average of $18.19 and a two-hundred day simple moving average of $21.82.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Tower Research Capital LLC TRC boosted its stake in shares of 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 Form 13F filing 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 at the end of the most recent reporting period.

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.