Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) Stock Price Down 3.2% – Here’s Why

Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG)’s stock price traded down 3.2% during trading on Thursday. The company traded as low as $31.23 and last traded at $31.30. 664,784 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 1,000,521 shares. The stock had previously closed at $32.33.

Direxion Daily FTSE China Bear 3X ETF Trading Down 3.2%

The firm’s 50-day moving average is $30.26 and its two-hundred day moving average is $30.38.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Direxion Daily FTSE China Bear 3X ETF stock. Renaissance Technologies LLC grew its holdings in shares of Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) by 181.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,400 shares of the company’s stock after purchasing an additional 35,100 shares during the quarter. Renaissance Technologies LLC owned about 1.34% of Direxion Daily FTSE China Bear 3X ETF worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

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.