Short Interest in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Drops By 55.3%

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 15,776 shares, a drop of 55.3% from the July 15th total of 35,255 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 43,535 shares, the days-to-cover ratio is currently 0.4 days.

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

An institutional investor recently bought a new position in Direxion Daily Dow Jones Internet Bear 3x Shares stock. Bank of America Corp DE acquired a new stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 700 shares of the company’s stock, valued at approximately $25,000.

Direxion Daily Dow Jones Internet Bear 3x Shares Stock Up 4.0%

WEBS stock traded up $0.55 on Friday, hitting $14.21. 20,438 shares of the company’s stock were exchanged, compared to its average volume of 80,679. The firm has a 50 day moving average price of $18.05 and a two-hundred day moving average price of $21.71. Direxion Daily Dow Jones Internet Bear 3x Shares has a 12-month low of $13.64 and a 12-month high of $33.25.

About Direxion Daily Dow Jones Internet Bear 3x Shares

The Direxion Daily Dow Jones Internet Bear 3X Shares (WEBS) is an exchange-traded fund that is based on the DJ Internet Composite index. The fund provides 3x daily inverse exposure to a market-cap-weighted index of the largest and most liquid U.S. Internet companies. WEBS was launched on Nov 7, 2019 and is managed by Direxion.