Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Stock Price Down 2.4% – Here’s Why

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) dropped 2.4% during trading on Friday . The stock traded as low as $31.39 and last traded at $31.56. Approximately 158,773 shares changed hands during trading, a decline of 41% from the average daily volume of 271,105 shares. The stock had previously closed at $32.35.

Direxion Daily Dow Jones Internet Bull 3x Shares Stock Down 2.4%

The firm has a market capitalization of $143.60 million, a P/E ratio of 26.56 and a beta of 3.41. The firm’s 50-day simple moving average is $31.59 and its 200-day simple moving average is $26.27.

Institutional Trading of Direxion Daily Dow Jones Internet Bull 3x Shares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 1st quarter valued at $431,000. Jane Street Group LLC purchased a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter valued at about $526,000. Citizens Financial Group Inc. RI bought a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the first quarter valued at approximately $318,000. Two Sigma Securities LLC bought a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the second quarter valued at approximately $396,000. Finally, IMC Chicago LLC bought a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the first quarter valued at approximately $208,000.

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.