Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading Down 7.4% – Time to Sell?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) traded down 7.4% during trading on Wednesday . The company traded as low as $23.42 and last traded at $24.76. 60,833 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 80,208 shares. The stock had previously closed at $26.75.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Down 7.4%

The stock’s fifty day moving average price is $27.14 and its 200 day moving average price is $22.26.

Institutional Inflows and Outflows

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

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.