Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) Stock Falls 2.8% – What’s Next?

Shares of Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) fell 2.8% on Thursday. The stock traded as low as $28.42 and last traded at $29.27. 1,569,250 shares changed hands during mid-day trading, an increase of 61% from the average daily volume of 976,026 shares. The stock had previously closed at $30.11.

Direxion Daily FTSE China Bear 3X ETF Stock Performance

The stock has a 50 day moving average price of $32.09 and a two-hundred day moving average price of $29.59.

Hedge Funds Weigh In On Direxion Daily FTSE China Bear 3X ETF

A hedge fund recently raised its position in Direxion Daily FTSE China Bear 3X ETF stock. Renaissance Technologies LLC boosted its holdings in shares of Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) by 181.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,400 shares of the company’s stock after acquiring an additional 35,100 shares during the quarter. Renaissance Technologies LLC owned approximately 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.