Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) Stock Jumps 0.2% – Still a Buy?

Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) shares shot up 0.2% during trading on Tuesday. The stock traded as high as $14.71 and last traded at $14.30. 23,210 shares changed hands during trading, a decline of 67% from the average daily volume of 71,398 shares. The stock had previously closed at $14.27.

Direxion Daily Dow Jones Internet Bear 3X ETF Price Performance

The firm has a 50-day simple moving average of $14.17 and a two-hundred day simple moving average of $17.51.

Institutional Investors Weigh In On Direxion Daily Dow Jones Internet Bear 3X ETF

A hedge fund recently raised its position in Direxion Daily Dow Jones Internet Bear 3X ETF stock. Citadel Advisors LLC grew its holdings in shares of Direxion Daily Dow Jones Internet Bear 3X ETF (NYSEARCA:WEBS) by 40.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,673 shares of the company’s stock after buying an additional 9,191 shares during the period. Citadel Advisors LLC owned 7.04% of Direxion Daily Dow Jones Internet Bear 3X ETF worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Direxion Daily Dow Jones Internet Bear 3X ETF

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.