Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS) Shares Down 5% – Here’s What Happened

Daily Dow Jones Internet Bear 3X Shares (NYSEARCA:WEBS) fell 5% during trading on Wednesday . The company traded as low as $39.20 and last traded at $40.30. 43,048 shares traded hands during mid-day 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 stock’s 50-day moving average price is $32.98 and its 200-day moving average price is $197.24.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in Daily Dow Jones Internet Bear 3X Shares in the 4th quarter valued at about $1,500,000. Virtu Financial LLC lifted its holdings in shares of Daily Dow Jones Internet Bear 3X Shares by 95.9% during the 4th 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 period. Tower Research Capital LLC TRC boosted its position in shares of Daily Dow Jones Internet Bear 3X Shares by 1,512.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,626 shares of the company’s stock worth $479,000 after acquiring an additional 12,781 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Daily Dow Jones Internet Bear 3X Shares in the fourth 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.