Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS) Trading Down 5% – Time to Sell?

Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS)’s stock price fell 5% on Wednesday . The stock traded as low as $39.20 and last traded at $40.30. 43,048 shares were traded during trading, a decline of 28% from the average session volume of 60,023 shares. The stock had previously closed at $42.43.

Daily Dow Jones Internet Bear 3X Shares Price Performance

The company’s 50-day moving average is $32.98 and its 200-day moving average is $197.24.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in shares of Daily Dow Jones Internet Bear 3X Shares during the fourth quarter valued at approximately $1,500,000. Virtu Financial LLC raised its position in shares of Daily Dow Jones Internet Bear 3X Shares by 95.9% during the fourth quarter. Virtu Financial LLC now owns 35,177 shares of the company’s stock worth $1,236,000 after acquiring an additional 17,223 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Daily Dow Jones Internet Bear 3X Shares by 1,512.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,626 shares of the company’s stock valued at $479,000 after acquiring an additional 12,781 shares during the period. Finally, Bank of America Corp DE bought a new position in Daily Dow Jones Internet Bear 3X Shares in the fourth quarter valued at about $25,000.

Daily Dow Jones Internet Bear 3X Shares Company Profile

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.