Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Stock Price Down 6% – Here’s Why

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL)’s stock price were down 6% during trading on Wednesday . The stock traded as low as $27.76 and last traded at $27.97. Approximately 129,114 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 334,164 shares. The stock had previously closed at $29.74.

Direxion Daily Dow Jones Internet Bull 3x Shares Trading Down 9.7%

The company’s 50-day simple moving average is $22.97 and its 200 day simple moving average is $23.53. The stock has a market cap of $121.92 million, a P/E ratio of 26.56 and a beta of 3.63.

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

A number of hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd raised its position in Direxion Daily Dow Jones Internet Bull 3x Shares by 96.6% in the third quarter. Qube Research & Technologies Ltd now owns 1,158 shares of the company’s stock worth $37,000 after acquiring an additional 569 shares during the period. Group One Trading LLC boosted its stake in Direxion Daily Dow Jones Internet Bull 3x Shares by 229.4% in the third quarter. Group One Trading LLC now owns 929 shares of the company’s stock valued at $30,000 after acquiring an additional 647 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter valued at approximately $324,000. Two Sigma Securities LLC bought a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter valued at approximately $396,000. Finally, Virtu Financial LLC purchased a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 4th quarter worth approximately $382,000.

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.