Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading 5.3% Higher – Time to Buy?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) traded up 5.3% during trading on Wednesday . The company traded as high as $20.15 and last traded at $20.11. 139,531 shares were traded during mid-day trading, an increase of 62% from the average session volume of 86,044 shares. The stock had previously closed at $19.09.

Direxion Daily Dow Jones Internet Bear 3x Shares Price Performance

The business has a 50-day simple moving average of $20.46 and a 200 day simple moving average of $22.53.

Institutional Investors Weigh In On Direxion Daily Dow Jones Internet Bear 3x Shares

An institutional investor recently raised its position 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 second quarter, according to its most recent filing with the Securities and 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 about 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 as of its most recent SEC filing.

Direxion Daily Dow Jones Internet Bear 3x Shares Company Profile

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.