Direxion Daily CSI China Internet Index Bull 2x Shares Sees Unusually High Options Volume (NYSEARCA:CWEB)

Direxion Daily CSI China Internet Index Bull 2x Shares (NYSEARCA:CWEB) was the target of unusually large options trading on Tuesday. Stock investors purchased 3,454 put options on the company. This is an increase of approximately 324% compared to the average daily volume of 814 put options.

Direxion Daily CSI China Internet Index Bull 2x Shares Trading Up 0.5%

Shares of CWEB opened at $43.87 on Thursday. The firm’s fifty day simple moving average is $49.39 and its two-hundred day simple moving average is $46.31. Direxion Daily CSI China Internet Index Bull 2x Shares has a 12 month low of $26.93 and a 12 month high of $61.24. The stock has a market capitalization of $288.23 million, a P/E ratio of 17.82 and a beta of 0.60.

Hedge Funds Weigh In On Direxion Daily CSI China Internet Index Bull 2x Shares

Institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd purchased a new stake in Direxion Daily CSI China Internet Index Bull 2x Shares in the 2nd quarter valued at $161,000. Bank of America Corp DE boosted its holdings in Direxion Daily CSI China Internet Index Bull 2x Shares by 39.0% during the 2nd quarter. Bank of America Corp DE now owns 3,921 shares of the company’s stock worth $155,000 after acquiring an additional 1,100 shares during the last quarter. IMC Chicago LLC bought a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the 3rd quarter worth $1,329,000. Finally, Group One Trading LLC purchased a new stake in shares of Direxion Daily CSI China Internet Index Bull 2x Shares in the third quarter valued at about $11,623,000.

About Direxion Daily CSI China Internet Index Bull 2x Shares

The Direxion Daily CSI China Internet Bull 2X Shares (CWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund provides 2x leveraged daily exposure to an index composed of overseas-listed Chinese internet companies. CWEB was launched on Nov 2, 2016 and is managed by Direxion.