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

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 50,737 shares, a decline of 52.7% from the July 30th total of 107,298 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 194,637 shares, the days-to-cover ratio is currently 0.3 days.

Direxion Daily Dow Jones Internet Bull 3x Shares Stock Performance

Shares of NYSEARCA WEBL traded up $0.20 during midday trading on Friday, reaching $30.59. 151,898 shares of the stock were exchanged, compared to its average volume of 296,641. The company has a 50 day simple moving average of $25.78 and a 200 day simple moving average of $23.15. The stock has a market capitalization of $113.18 million, a P/E ratio of 26.56 and a beta of 3.62. Direxion Daily Dow Jones Internet Bull 3x Shares has a twelve month low of $14.90 and a twelve month high of $35.24.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC raised its position in Direxion Daily Dow Jones Internet Bull 3x Shares by 229.4% in the third quarter. Group One Trading LLC now owns 929 shares of the company’s stock valued at $30,000 after purchasing an additional 647 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares by 96.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,158 shares of the company’s stock valued at $37,000 after purchasing an additional 569 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth $324,000. Two Sigma Securities LLC purchased a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth $396,000. Finally, Virtu Financial LLC acquired a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares during the 4th quarter worth about $382,000.

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.