Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading 10.3% Higher – Should You Buy?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) shares shot up 10.3% during mid-day trading on Tuesday . The stock traded as high as $24.56 and last traded at $24.01. 75,928 shares changed hands during trading, an increase of 115% from the average session volume of 35,319 shares. The stock had previously closed at $21.77.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Up 10.3%

The firm has a fifty day moving average of $20.57 and a 200-day moving average of $19.69.

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 raised its stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 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.

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.