Short Interest in Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Declines By 59.1%

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 116,321 shares, a drop of 59.1% from the February 12th total of 284,343 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average trading volume of 426,165 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 426,165 shares, the days-to-cover ratio is currently 0.3 days. Approximately 2.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WEBL. Group One Trading LLC raised its stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares by 229.4% during the 3rd quarter. Group One Trading LLC now owns 929 shares of the company’s stock valued at $30,000 after buying an additional 647 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Direxion Daily Dow Jones Internet Bull 3x Shares by 96.6% during the third quarter. Qube Research & Technologies Ltd now owns 1,158 shares of the company’s stock valued at $37,000 after purchasing an additional 569 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the second quarter valued at about $324,000. Two Sigma Securities LLC acquired a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the second quarter valued at about $396,000. Finally, Virtu Financial LLC purchased a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the fourth quarter worth about $382,000.

Direxion Daily Dow Jones Internet Bull 3x Shares Price Performance

Shares of WEBL opened at $19.85 on Wednesday. The firm has a market capitalization of $82.38 million, a price-to-earnings ratio of 26.56 and a beta of 3.44. The company has a 50-day moving average of $22.53 and a 200 day moving average of $27.71. Direxion Daily Dow Jones Internet Bull 3x Shares has a 1-year low of $11.67 and a 1-year high of $35.24.

Direxion Daily Dow Jones Internet Bull 3x Shares Company Profile

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.