Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Trading Down 7.9% – What’s Next?

Shares of Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) were down 7.9% during mid-day trading on Friday . The company traded as low as $22.87 and last traded at $22.87. Approximately 1,099,220 shares traded hands during trading, a decline of 29% from the average daily volume of 1,549,729 shares. The stock had previously closed at $24.83.

Direxion Daily FTSE China Bear 3X Shares Price Performance

The firm’s 50-day simple moving average is $23.55 and its 200-day simple moving average is $24.04.

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

Several institutional investors have recently made changes to their positions in YANG. 1248 Management LLC increased its position 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 purchasing an additional 800 shares during the period. SBI Securities Co. Ltd. raised its position in shares of 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 purchasing an additional 2,343 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Direxion Daily FTSE China Bear 3X Shares in the 2nd quarter worth approximately $135,000. IMC Chicago LLC purchased a new stake in Direxion Daily FTSE China Bear 3X Shares during the 4th quarter worth approximately $302,000. Finally, Group One Trading LLC increased its stake in Direxion Daily FTSE China Bear 3X Shares by 0.3% during the 3rd quarter. Group One Trading LLC now owns 287,537 shares of the company’s stock valued at $6,179,000 after purchasing an additional 795 shares in the last quarter.

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.