Daily Dow Jones Internet Bull 3X Shares (NYSEARCA:WEBL) Trading 3.4% Higher – Still a Buy?

Daily Dow Jones Internet Bull 3X Shares (NYSEARCA:WEBL)’s stock price shot up 3.4% during trading on Tuesday . The company traded as high as $21.08 and last traded at $20.96. 155,551 shares changed hands during trading, a decline of 72% from the average session volume of 548,379 shares. The stock had previously closed at $20.27.

Daily Dow Jones Internet Bull 3X Shares Stock Performance

The firm’s 50-day simple moving average is $17.98 and its two-hundred day simple moving average is $17.15. The stock has a market cap of $197.02 million, a price-to-earnings ratio of 59.87 and a beta of 4.35.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Daily Dow Jones Internet Bull 3X Shares stock. Quadrature Capital Ltd acquired a new position in shares of Daily Dow Jones Internet Bull 3X Shares (NYSEARCA:WEBL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,850 shares of the company’s stock, valued at approximately $225,000. Quadrature Capital Ltd owned 0.13% of Daily Dow Jones Internet Bull 3X Shares as of its most recent SEC filing.

About Daily Dow Jones Internet Bull 3X Shares

The Direxion Daily Dow Jones Internet Bull 3X Shares (WEBL) is an exchange-traded fund that is based on the DJ Internet Composite index. The fund provides 3x leveraged daily exposure to a market-cap-weighted index of the largest and most liquid U.S. Internet companies. WEBL was launched on Nov 7, 2019 and is managed by Direxion.