Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Stock Price Down 3.2% – What’s Next?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s stock price fell 3.2% during trading on Friday . The stock traded as low as $20.00 and last traded at $20.07. 20,975 shares were traded during mid-day trading, a decline of 69% from the average session volume of 67,701 shares. The stock had previously closed at $20.73.

Direxion Daily Dow Jones Internet Bear 3x Shares Trading Down 3.2%

The stock has a fifty day moving average price of $18.97 and a two-hundred day moving average price of $20.69.

Institutional Inflows and Outflows

A hedge fund recently raised its stake 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 the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,350 shares of the company’s stock after purchasing an additional 23,795 shares during the quarter. Tower Research Capital LLC TRC owned about 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.