Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Trading Up 5.5% – Here’s What Happened

Shares of Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) were up 5.5% on Wednesday . The company traded as high as $19.31 and last traded at $19.27. Approximately 24,888 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 82,166 shares. The stock had previously closed at $18.26.

Direxion Daily Dow Jones Internet Bear 3x Shares Trading Up 5.5%

The firm’s 50 day moving average is $18.50 and its two-hundred day moving average is $22.29.

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

A hedge fund recently raised its position in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Tower Research Capital LLC TRC increased its stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) by 96.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,350 shares of the company’s stock after acquiring an additional 23,795 shares during the period. Tower Research Capital LLC TRC owned approximately 10.74% of Direxion Daily Dow Jones Internet Bear 3x Shares worth $1,001,000 at the end of the most recent reporting period.

About Direxion Daily Dow Jones Internet Bear 3x Shares

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.