Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading Down 5.6% – What’s Next?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) shares were down 5.6% during trading on Wednesday . The company traded as low as $17.72 and last traded at $18.30. Approximately 62,096 shares were traded during trading, a decline of 28% from the average daily volume of 86,416 shares. The stock had previously closed at $19.39.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Performance

The company has a 50 day moving average price of $19.12 and a 200-day moving average price of $22.50.

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

An institutional investor recently bought a new stake in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Bank of America Corp DE acquired a new stake in shares of Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 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.