Short Interest in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Drops By 55.3%

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 15,776 shares, a decline of 55.3% from the July 15th total of 35,255 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 43,535 shares, the short-interest ratio is presently 0.4 days.

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

A hedge fund recently bought a new position in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Bank of America Corp DE acquired a new stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 700 shares of the company’s stock, valued at approximately $25,000.

Direxion Daily Dow Jones Internet Bear 3x Shares Price Performance

Shares of WEBS traded up $0.55 during trading hours on Friday, reaching $14.21. 20,438 shares of the company traded hands, compared to its average volume of 80,679. Direxion Daily Dow Jones Internet Bear 3x Shares has a 12-month low of $13.64 and a 12-month high of $33.25. The business has a fifty day moving average price of $18.05 and a 200-day moving average price of $21.71.

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.