Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Trading Down 6% – Here’s Why

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL)’s share price fell 6% during trading on Wednesday . The stock traded as low as $27.76 and last traded at $27.97. 129,114 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 334,164 shares. The stock had previously closed at $29.74.

Direxion Daily Dow Jones Internet Bull 3x Shares Stock Performance

The company has a 50 day moving average price of $22.75 and a 200 day moving average price of $23.53. The firm has a market cap of $134.26 million, a price-to-earnings ratio of 26.56 and a beta of 3.60.

Hedge Funds Weigh In On Direxion Daily Dow Jones Internet Bull 3x Shares

Large investors have recently modified their holdings of the business. Group One Trading LLC lifted its stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares by 229.4% in the 3rd 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 last quarter. Qube Research & Technologies Ltd lifted its stake 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 in the last quarter. Tower Research Capital LLC TRC acquired a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth about $324,000. Two Sigma Securities LLC acquired a new position in Direxion Daily Dow Jones Internet Bull 3x Shares during the 2nd quarter worth about $396,000. Finally, Virtu Financial LLC acquired a new position in 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.