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

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 107,298 shares, a growth of 135.7% from the July 15th total of 45,532 shares. Based on an average trading volume of 173,762 shares, the days-to-cover ratio is presently 0.6 days. Currently, 2.9% of the shares of the company are sold short.

Direxion Daily Dow Jones Internet Bull 3x Shares Price Performance

Shares of Direxion Daily Dow Jones Internet Bull 3x Shares stock traded down $1.26 during trading hours on Friday, reaching $29.86. The company had a trading volume of 83,711 shares, compared to its average volume of 308,941. The firm has a market cap of $110.48 million, a PE ratio of 26.56 and a beta of 3.62. Direxion Daily Dow Jones Internet Bull 3x Shares has a one year low of $14.90 and a one year high of $35.24. The business has a fifty day simple moving average of $24.82 and a 200 day simple moving average of $22.79.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the fourth quarter worth about $382,000. Qube Research & Technologies Ltd increased its holdings in Direxion Daily Dow Jones Internet Bull 3x Shares by 96.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,158 shares of the company’s stock worth $37,000 after acquiring an additional 569 shares during the period. Group One Trading LLC increased its holdings in 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 acquiring an additional 647 shares during the period. Tower Research Capital LLC TRC bought a new stake in Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth approximately $324,000. Finally, Two Sigma Securities LLC purchased a new stake in Direxion Daily Dow Jones Internet Bull 3x Shares in the 2nd quarter worth approximately $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.