Short Interest in Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Declines By 44.0%

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 45,532 shares, a decrease of 44.0% from the June 30th total of 81,329 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 233,505 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Direxion Daily Dow Jones Internet Bull 3x Shares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in Direxion Daily Dow Jones Internet Bull 3x Shares during the second quarter valued at about $526,000. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth $396,000. Tower Research Capital LLC TRC acquired a new stake in Direxion Daily Dow Jones Internet Bull 3x Shares in the 2nd quarter worth approximately $324,000. Group One Trading LLC raised its holdings in Direxion Daily Dow Jones Internet Bull 3x Shares by 229.4% in the 3rd quarter. Group One Trading LLC now owns 929 shares of the company’s stock worth $30,000 after acquiring an additional 647 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Direxion Daily Dow Jones Internet Bull 3x Shares by 96.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,158 shares of the company’s stock worth $37,000 after buying an additional 569 shares during the period.

Direxion Daily Dow Jones Internet Bull 3x Shares Stock Performance

Shares of WEBL stock traded down $0.14 during midday trading on Wednesday, reaching $23.40. 115,232 shares of the company were exchanged, compared to its average volume of 318,564. Direxion Daily Dow Jones Internet Bull 3x Shares has a 12 month low of $14.90 and a 12 month high of $35.24. The company has a market cap of $86.58 million, a P/E ratio of 26.56 and a beta of 3.63. The company’s 50 day moving average price is $24.60 and its two-hundred day moving average price is $22.53.

About Direxion Daily Dow Jones Internet Bull 3x Shares

The Direxion Daily Dow Jones Internet Bull 3X Shares (WEBL) is an exchange-traded fund that is based on the DJ Internet Composite index. The fund provides 3x leveraged daily exposure to a market-cap-weighted index of the largest and most liquid U.S. Internet companies. WEBL was launched on Nov 7, 2019 and is managed by Direxion.