Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Shares Down 5.2% – What’s Next?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s stock price dropped 5.2% during trading on Tuesday . The stock traded as low as $29.48 and last traded at $29.72. Approximately 76,155 shares were traded during mid-day trading, an increase of 35% from the average daily volume of 56,427 shares. The stock had previously closed at $31.34.

Direxion Daily Dow Jones Internet Bear 3x Shares Trading Down 2.5%

The stock has a fifty day simple moving average of $23.25 and a 200-day simple moving average of $20.58.

Hedge Funds 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 increased its position in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund 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 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 at the end of the most recent quarter.

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.