Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) Shares Up 1% – Still a Buy?

Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) rose 1% on Thursday. The company traded as high as $31.60 and last traded at $31.35. 501,376 shares changed hands during trading, a decline of 51% from the average daily volume of 1,033,751 shares. The stock had previously closed at $31.03.

Direxion Daily FTSE China Bear 3X ETF Trading Up 2.6%

The firm has a fifty day simple moving average of $29.15 and a 200-day simple moving average of $30.09.

Institutional Trading of Direxion Daily FTSE China Bear 3X ETF

An institutional investor recently raised its stake in Direxion Daily FTSE China Bear 3X ETF stock. Renaissance Technologies LLC boosted its stake in Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) by 181.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,400 shares of the company’s stock after acquiring an additional 35,100 shares during the period. Renaissance Technologies LLC owned 1.34% of Direxion Daily FTSE China Bear 3X ETF worth $1,585,000 at the end of the most recent reporting period.

Direxion Daily FTSE China Bear 3X ETF Company Profile

Direxion Daily China Bear 3x Shares (the Fund) seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the BNY China Select ADR Index (the China Index). The China Index is a free float-adjusted capitalization-weighted index designed by the Bank of New York to track the performance of a basket of companies who have their primary equity listing on a stock exchange in China and which also have depositary receipts that trade on a United States exchange or on the National Association of Securities and Dealers Automated Quotation.