Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Shares Up 1.1% – Should You Buy?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s share price were up 1.1% during trading on Thursday . The company traded as high as $24.52 and last traded at $24.52. Approximately 52,504 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 63,022 shares. The stock had previously closed at $24.25.

Direxion Daily Dow Jones Internet Bear 3x Shares Trading Up 1.1%

The company has a 50-day moving average of $30.02 and a two-hundred day moving average of $33.35.

Institutional Investors Weigh In On Direxion Daily Dow Jones Internet Bear 3x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEBS. Bank of America Corp DE purchased a new position in Direxion Daily Dow Jones Internet Bear 3x Shares during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. raised its position in shares of Direxion Daily Dow Jones Internet Bear 3x Shares by 198.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,096 shares of the company’s stock valued at $48,000 after purchasing an additional 729 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Direxion Daily Dow Jones Internet Bear 3x Shares by 1,512.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,626 shares of the company’s stock valued at $479,000 after buying an additional 12,781 shares in the last quarter. Virtu Financial LLC boosted its holdings in Direxion Daily Dow Jones Internet Bear 3x Shares by 95.9% in the 4th quarter. Virtu Financial LLC now owns 35,177 shares of the company’s stock worth $1,236,000 after buying an additional 17,223 shares during the period. Finally, Jane Street Group LLC bought a new position in Direxion Daily Dow Jones Internet Bear 3x Shares in the 4th quarter worth $1,500,000.

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.