Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) Stock Falls 3.2% – Should You Sell?

Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG)’s share price dropped 3.2% during trading on Thursday. The stock traded as low as $31.23 and last traded at $31.30. Approximately 664,784 shares changed hands during 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 company has a fifty day simple moving average of $30.26 and a two-hundred day simple moving average of $30.38.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Direxion Daily FTSE China Bear 3X ETF stock. Renaissance Technologies LLC lifted its stake in Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) by 181.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,400 shares of the company’s stock after acquiring an additional 35,100 shares during the period. Renaissance Technologies LLC owned 1.34% of Direxion Daily FTSE China Bear 3X ETF worth $1,585,000 at the end of the most recent reporting period.

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.