Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Sees Significant Decline in Short Interest

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 67,400 shares, a decrease of 65.7% from the August 15th total of 196,300 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 179,300 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 179,300 shares, the short-interest ratio is currently 0.4 days. Currently, 1.3% of the company’s stock are sold short.

Direxion Daily Dow Jones Internet Bull 3x Shares Price Performance

Shares of NYSEARCA:WEBL opened at $33.80 on Friday. The business’s 50-day moving average is $30.38 and its 200 day moving average is $25.16. Direxion Daily Dow Jones Internet Bull 3x Shares has a 1 year low of $11.67 and a 1 year high of $34.77. The firm has a market capitalization of $177.45 million, a P/E ratio of 26.56 and a beta of 3.41.

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

Several hedge funds have recently modified their holdings of WEBL. IMC Chicago LLC acquired a new stake in Direxion Daily Dow Jones Internet Bull 3x Shares in the 1st quarter worth approximately $208,000. Jane Street Group LLC acquired a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the 4th quarter valued at approximately $488,000. Citizens Financial Group Inc. RI acquired a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the 1st quarter valued at approximately $318,000. GTS Securities LLC purchased a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the fourth quarter worth $288,000. Finally, Virtu Financial LLC purchased a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the first quarter worth $431,000.

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.