Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Shares Down 5.6% – Should You Sell?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) were down 5.6% on Wednesday . The company traded as low as $17.72 and last traded at $18.30. Approximately 62,096 shares were traded during trading, a decline of 28% from the average daily volume of 86,416 shares. The stock had previously closed at $19.39.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Down 5.6%

The firm has a 50 day simple moving average of $19.14 and a 200-day simple moving average of $22.51.

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% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,350 shares of the company’s stock after buying an additional 23,795 shares during the period. Tower Research Capital LLC TRC owned approximately 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.