Direxion Daily CSI China Internet Index Bull 2x Shares (NYSEARCA:CWEB) Sees Large Drop in Short Interest

Direxion Daily CSI China Internet Index Bull 2x Shares (NYSEARCA:CWEB) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 986,053 shares, a decrease of 36.1% from the February 26th total of 1,541,945 shares. Based on an average trading volume of 575,901 shares, the short-interest ratio is currently 1.7 days. Currently, 15.9% of the company’s stock are short sold.

Direxion Daily CSI China Internet Index Bull 2x Shares Price Performance

CWEB stock traded down $0.57 during mid-day trading on Friday, reaching $25.70. The company had a trading volume of 337,923 shares, compared to its average volume of 501,668. The company has a market capitalization of $159.85 million, a price-to-earnings ratio of 17.82 and a beta of 0.60. Direxion Daily CSI China Internet Index Bull 2x Shares has a 52 week low of $25.62 and a 52 week high of $61.24. The stock has a 50 day simple moving average of $35.33 and a two-hundred day simple moving average of $44.07.

Direxion Daily CSI China Internet Index Bull 2x Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Wednesday, December 31st were issued a dividend of $1.1127 per share. This represents a $4.45 dividend on an annualized basis and a yield of 17.3%. The ex-dividend date was Wednesday, December 31st.

Institutional Trading of Direxion Daily CSI China Internet Index Bull 2x Shares

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in shares of Direxion Daily CSI China Internet Index Bull 2x Shares during the 4th quarter worth about $32,000. Bank of America Corp DE grew its holdings in Direxion Daily CSI China Internet Index Bull 2x Shares by 39.0% during the second quarter. Bank of America Corp DE now owns 3,921 shares of the company’s stock worth $155,000 after purchasing an additional 1,100 shares during the period. Qube Research & Technologies Ltd acquired a new position in Direxion Daily CSI China Internet Index Bull 2x Shares during the second quarter worth approximately $161,000. HRT Financial LP bought a new stake in Direxion Daily CSI China Internet Index Bull 2x Shares in the fourth quarter valued at approximately $220,000. Finally, Csenge Advisory Group acquired a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the fourth quarter valued at approximately $316,000.

About Direxion Daily CSI China Internet Index Bull 2x Shares

The Direxion Daily CSI China Internet Bull 2X Shares (CWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund provides 2x leveraged daily exposure to an index composed of overseas-listed Chinese internet companies. CWEB was launched on Nov 2, 2016 and is managed by Direxion.