Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Trading Down 9.7% – Time to Sell?

Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG)’s share price were down 9.7% during trading on Monday . The stock traded as low as $20.71 and last traded at $20.77. Approximately 3,195,979 shares were traded during trading, an increase of 91% from the average daily volume of 1,674,427 shares. The stock had previously closed at $23.00.

Direxion Daily FTSE China Bear 3X Shares Stock Down 9.7%

The stock has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $24.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of YANG. JPMorgan Chase & Co. purchased a new stake in shares of Direxion Daily FTSE China Bear 3X Shares in the second quarter worth approximately $135,000. Group One Trading LLC grew its holdings in 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 worth $8,786,000 after buying an additional 142,827 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Direxion Daily FTSE China Bear 3X Shares by 189.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 3,581 shares of the company’s stock valued at $77,000 after buying an additional 2,343 shares during the last quarter. Finally, 1248 Management LLC lifted its stake in Direxion Daily FTSE China Bear 3X Shares by 200.0% during the 3rd quarter. 1248 Management LLC now owns 1,200 shares of the company’s stock valued at $26,000 after acquiring an additional 800 shares in the last quarter.

Direxion Daily FTSE China Bear 3X Shares 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.