Daily Dow Jones Internet Bull 3X Shares (NYSEARCA:WEBL) Stock Price Up 7.5% Following Dividend Announcement

Daily Dow Jones Internet Bull 3X Shares (NYSEARCA:WEBL)’s stock price traded up 7.5% on Monday after the company announced a dividend. The company traded as high as $23.10 and last traded at $22.99. 283,188 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 415,409 shares. The stock had previously closed at $21.38.

The newly announced dividend which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.0246 dividend. The ex-dividend date is Tuesday, March 25th.

Daily Dow Jones Internet Bull 3X Shares Price Performance

The company has a market capitalization of $126.50 million, a price-to-earnings ratio of 25.46 and a beta of 3.56. The firm’s 50-day simple moving average is $28.03 and its two-hundred day simple moving average is $25.21.

Hedge Funds Weigh In On Daily Dow Jones Internet Bull 3X Shares

Several hedge funds have recently bought and sold shares of WEBL. GTS Securities LLC purchased a new position in shares of Daily Dow Jones Internet Bull 3X Shares in the fourth quarter valued at $288,000. Summit Trail Advisors LLC acquired a new stake in Daily Dow Jones Internet Bull 3X Shares in the 4th quarter valued at about $322,000. X Square Capital LLC purchased a new position in Daily Dow Jones Internet Bull 3X Shares during the 4th quarter valued at about $402,000. Jane Street Group LLC acquired a new position in Daily Dow Jones Internet Bull 3X Shares during the fourth quarter worth about $488,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Daily Dow Jones Internet Bull 3X Shares in the fourth quarter valued at about $500,000.

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.