Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS) Trading Up 3.8% – Still a Buy?

Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS) shares were up 3.8% on Tuesday . The company traded as high as $35.58 and last traded at $34.16. Approximately 161,803 shares traded hands during mid-day trading, an increase of 93% from the average daily volume of 83,622 shares. The stock had previously closed at $32.91.

Daily Dow Jones Internet Bear 3X Shares Price Performance

The stock’s 50-day simple moving average is $31.22 and its 200-day simple moving average is $264.26.

Institutional Trading of Daily Dow Jones Internet Bear 3X Shares

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

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.