Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Stock Price Down 3.5% – Here’s Why

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL)’s stock price dropped 3.5% during mid-day trading on Friday . The company traded as low as $23.18 and last traded at $24.21. Approximately 175,561 shares traded hands during trading, a decline of 46% from the average daily volume of 327,075 shares. The stock had previously closed at $25.10.

Direxion Daily Dow Jones Internet Bull 3x Shares Trading Down 3.5%

The firm has a market capitalization of $89.58 million, a PE ratio of 26.56 and a beta of 3.63. The firm’s fifty day moving average price is $24.80 and its 200 day moving average price is $22.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Group One Trading LLC raised its position in Direxion Daily Dow Jones Internet Bull 3x Shares by 229.4% during 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 in the last quarter. Qube Research & Technologies Ltd boosted its holdings 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 purchasing an additional 569 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the second quarter worth $324,000. Virtu Financial LLC acquired a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the fourth quarter worth $382,000. Finally, Two Sigma Securities LLC bought a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the second quarter valued at about $396,000.

About Direxion Daily Dow Jones Internet Bull 3x Shares

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.