Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading 5.5% Higher – Time to Buy?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s share price were up 5.5% on Wednesday . The company traded as high as $19.31 and last traded at $19.27. Approximately 24,888 shares were traded during trading, a decline of 70% from the average daily volume of 82,166 shares. The stock had previously closed at $18.26.

Direxion Daily Dow Jones Internet Bear 3x Shares Price Performance

The company has a 50-day moving average price of $18.53 and a two-hundred day moving average price of $22.29.

Institutional Trading of 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 lifted its stake in shares of 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 & Exchange Commission. The firm owned 48,350 shares of the company’s stock after acquiring an additional 23,795 shares during the period. Tower Research Capital LLC TRC owned 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 at the end of the most recent reporting period.

About Direxion Daily Dow Jones Internet Bear 3x Shares

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.