Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Sees Large Drop in Short Interest

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) was the target of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 33,324 shares, a decline of 73.2% from the April 15th total of 124,415 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 386,641 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Direxion Daily Dow Jones Internet Bull 3x Shares

Several institutional investors have recently modified their holdings of WEBL. Jane Street Group LLC purchased a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth $526,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 4th quarter worth $382,000. Two Sigma Securities LLC purchased a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth $396,000. Tower Research Capital LLC TRC purchased a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth $324,000. Finally, Group One Trading LLC lifted its position 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 worth $30,000 after purchasing an additional 647 shares during the last quarter.

Direxion Daily Dow Jones Internet Bull 3x Shares Price Performance

Shares of Direxion Daily Dow Jones Internet Bull 3x Shares stock traded up $0.96 during trading on Thursday, hitting $24.76. 238,713 shares of the stock were exchanged, compared to its average volume of 352,678. The stock has a market cap of $118.85 million, a price-to-earnings ratio of 26.56 and a beta of 3.60. The firm’s 50-day moving average price is $20.68 and its 200 day moving average price is $23.97. Direxion Daily Dow Jones Internet Bull 3x Shares has a 12-month low of $14.90 and a 12-month 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.