Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Short Interest Up 149.8% in August

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 39,410 shares, an increase of 149.8% from the July 30th total of 15,776 shares. Based on an average daily volume of 81,256 shares, the short-interest ratio is currently 0.5 days. Approximately 8.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Direxion Daily Dow Jones Internet Bear 3x Shares

An institutional investor recently bought a new position in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Bank of America Corp DE purchased a new stake in shares of Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 700 shares of the company’s stock, valued at approximately $25,000.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Down 0.3%

NYSEARCA:WEBS traded down $0.04 during trading on Friday, reaching $13.79. The company’s stock had a trading volume of 35,990 shares, compared to its average volume of 78,449. The firm has a 50 day moving average of $17.15 and a 200-day moving average of $21.14. Direxion Daily Dow Jones Internet Bear 3x Shares has a 12 month low of $13.38 and a 12 month high of $33.25.

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.