Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Shares Down 1.3% – Here’s Why

Shares of Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) dropped 1.3% on Thursday . The company traded as low as $31.16 and last traded at $31.21. Approximately 1,386,148 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 1,240,284 shares. The stock had previously closed at $31.63.

Direxion Daily FTSE China Bear 3X Shares Price Performance

The stock has a 50-day moving average price of $28.34 and a two-hundred day moving average price of $26.26.

Institutional Investors Weigh In On Direxion Daily FTSE China Bear 3X Shares

Several hedge funds have recently made changes to their positions in YANG. JPMorgan Chase & Co. bought a new stake in shares of Direxion Daily FTSE China Bear 3X Shares during the second quarter valued at approximately $135,000. Group One Trading LLC boosted its position in shares of Direxion Daily FTSE China Bear 3X Shares by 99.2% during the second quarter. Group One Trading LLC now owns 286,742 shares of the company’s stock valued at $8,786,000 after purchasing an additional 142,827 shares in the last quarter. 1248 Management LLC boosted its position in shares of Direxion Daily FTSE China Bear 3X Shares by 200.0% during the third quarter. 1248 Management LLC now owns 1,200 shares of the company’s stock valued at $26,000 after purchasing an additional 800 shares in the last quarter. IMC Chicago LLC bought a new stake in shares of Direxion Daily FTSE China Bear 3X Shares during the fourth quarter valued at approximately $302,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Direxion Daily FTSE China Bear 3X Shares during the fourth quarter valued at approximately $485,000.

About Direxion Daily FTSE China Bear 3X Shares

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.