Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Trading 2.5% Higher – Time to Buy?

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) shares were up 2.5% during trading on Wednesday . The stock traded as high as $17.75 and last traded at $17.24. Approximately 453,580 shares were traded during trading, an increase of 38% from the average daily volume of 328,937 shares. The stock had previously closed at $16.82.

Direxion Daily Dow Jones Internet Bull 3x Shares Price Performance

The stock has a 50 day moving average price of $19.87 and a two-hundred day moving average price of $26.16. The firm has a market capitalization of $71.55 million, a price-to-earnings ratio of 26.56 and a beta of 3.44.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Group One Trading LLC increased its stake in Direxion Daily Dow Jones Internet Bull 3x Shares by 229.4% during the third quarter. Group One Trading LLC now owns 929 shares of the company’s stock worth $30,000 after purchasing an additional 647 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares by 96.6% in the third quarter. Qube Research & Technologies Ltd now owns 1,158 shares of the company’s stock valued at $37,000 after purchasing an additional 569 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the second quarter valued at approximately $324,000. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the second quarter valued at approximately $396,000. Finally, Virtu Financial LLC acquired a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the fourth quarter valued at approximately $382,000.

About Direxion Daily Dow Jones Internet Bull 3x Shares

The Direxion Daily Dow Jones Internet Bull 3X Shares (WEBL) is an exchange-traded fund that is based on the DJ Internet Composite index. The fund provides 3x leveraged daily exposure to a market-cap-weighted index of the largest and most liquid U.S. Internet companies. WEBL was launched on Nov 7, 2019 and is managed by Direxion.