Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) Short Interest Up 149.8% in August

Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 39,410 shares, an increase of 149.8% from the July 30th total of 15,776 shares. Based on an average daily volume of 81,256 shares, the days-to-cover ratio is presently 0.5 days. Currently, 8.8% of the shares of the stock are sold short.

Direxion Daily Dow Jones Internet Bear 3x Shares Trading Down 0.9%

Shares of WEBS opened at $13.70 on Friday. Direxion Daily Dow Jones Internet Bear 3x Shares has a twelve month low of $13.60 and a twelve month high of $33.25. The business’s 50-day moving average price is $17.26 and its 200-day moving average price is $21.19.

Institutional Trading of 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 purchased a new stake in Direxion Daily Dow Jones Internet Bear 3x Shares (NYSEARCA:WEBS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 700 shares of the company’s stock, valued at approximately $25,000.

Direxion 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.