Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading 1.1% Higher – Should You Buy?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s stock price traded up 1.1% during trading on Tuesday . The stock traded as high as $20.77 and last traded at $20.48. 28,296 shares traded hands during trading, an increase of 7% from the average session volume of 26,542 shares. The stock had previously closed at $20.25.

Direxion Daily Dow Jones Internet Bear 3x Shares Price Performance

The firm has a 50-day moving average of $20.18 and a 200-day moving average of $19.62.

Institutional Inflows and Outflows

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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC).

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.