Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) Short Interest Up 135.7% in July

Direxion Daily Dow Jones Internet Bull 3x Shares (NYSEARCA:WEBL) saw 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. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 173,762 shares, the days-to-cover ratio is currently 0.6 days.

Direxion Daily Dow Jones Internet Bull 3x Shares Stock Down 4.0%

Direxion Daily Dow Jones Internet Bull 3x Shares stock traded down $1.26 during trading on Friday, hitting $29.86. The stock had a trading volume of 83,711 shares, compared to its average volume of 308,941. The stock’s 50 day moving average is $24.82 and its two-hundred day moving average is $22.79. Direxion Daily Dow Jones Internet Bull 3x Shares has a 1 year low of $14.90 and a 1 year high of $35.24. The stock has a market cap of $110.48 million, a price-to-earnings ratio of 26.56 and a beta of 3.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Group One Trading LLC raised its stake in 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 acquiring an additional 647 shares during the period. Qube Research & Technologies Ltd boosted its position in Direxion Daily Dow Jones Internet Bull 3x Shares by 96.6% during 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 during the period. Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the second quarter worth about $324,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the fourth quarter worth about $382,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Direxion Daily Dow Jones Internet Bull 3x Shares in the second quarter valued at 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.