Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Trading Down 6.8% – Here’s Why

Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG)’s share price fell 6.8% during mid-day trading on Wednesday . The stock traded as low as $48.83 and last traded at $48.58. 1,517,581 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 1,223,687 shares. The stock had previously closed at $52.13.

Direxion Daily FTSE China Bear 3X Shares Price Performance

The firm has a 50-day moving average of $67.81 and a 200-day moving average of $1,332.00.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily FTSE China Bear 3X Shares in the 4th quarter valued at about $145,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily FTSE China Bear 3X Shares in the fourth quarter valued at approximately $2,325,000. Dynamic Technology Lab Private Ltd purchased a new position in Direxion Daily FTSE China Bear 3X Shares in the third quarter valued at about $206,000. TB Alternative Assets Ltd. acquired a new stake in Direxion Daily FTSE China Bear 3X Shares in the third quarter valued at approximately $866,000. Finally, JPMorgan Chase & Co. purchased a new stake in Direxion Daily FTSE China Bear 3X Shares in the third quarter valued at about $3,767,000.

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.