Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Shares Down 5.2% – Should You Sell?

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS)’s share price fell 5.2% on Tuesday . The company traded as low as $29.48 and last traded at $29.72. 76,155 shares changed hands during mid-day trading, an increase of 35% from the average session volume of 56,427 shares. The stock had previously closed at $31.34.

Direxion Daily Dow Jones Internet Bear 3x Shares Trading Down 5.2%

The firm has a fifty day moving average of $23.00 and a 200-day moving average of $20.49.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Bank of America Corp DE acquired a new position in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 700 shares of the company’s stock, valued at approximately $25,000.

Direxion Daily Dow Jones Internet Bear 3x Shares Company Profile

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.