Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS) Trading Down 6%

Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS – Get Rating)’s stock price dropped 6% during mid-day trading on Wednesday . The company traded as low as $18.81 and last traded at $18.90. Approximately 270,795 shares changed hands during trading, a decline of 42% from the average daily volume of 466,141 shares. The stock had previously closed at $20.11.

Daily Dow Jones Internet Bear 3X Shares Stock Down 6.0 %

The company has a 50 day moving average of $21.55 and a 200-day moving average of $27.96.

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

Hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Daily Dow Jones Internet Bear 3X Shares in the 2nd quarter worth approximately $64,000. Renaissance Technologies LLC purchased a new stake in shares of Daily Dow Jones Internet Bear 3X Shares during the 2nd quarter valued at about $386,000. IMC Chicago LLC purchased a new stake in shares of Daily Dow Jones Internet Bear 3X Shares during the 3rd quarter valued at about $464,000. UBS Group AG purchased a new stake in Daily Dow Jones Internet Bear 3X Shares in the 3rd quarter worth about $550,000. Finally, Jane Street Group LLC purchased a new stake in Daily Dow Jones Internet Bear 3X Shares in the 3rd quarter worth about $685,000.

Daily Dow Jones Internet Bear 3X Shares Company Profile

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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.