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

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

Daily Dow Jones Internet Bear 3X Shares Price Performance

The business’s fifty day moving average is $33.12 and its two-hundred day moving average is $196.15.

Institutional Trading of Daily Dow Jones Internet Bear 3X Shares

Several hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in Daily Dow Jones Internet Bear 3X Shares in the fourth quarter worth about $1,500,000. Virtu Financial LLC lifted its stake in shares of Daily Dow Jones Internet Bear 3X Shares by 95.9% in the 4th quarter. Virtu Financial LLC now owns 35,177 shares of the company’s stock valued at $1,236,000 after purchasing an additional 17,223 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Daily Dow Jones Internet Bear 3X Shares by 1,512.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,626 shares of the company’s stock worth $479,000 after purchasing an additional 12,781 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Daily Dow Jones Internet Bear 3X Shares during the 4th quarter valued at approximately $25,000.

About 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.