Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Trading Up 3.2% – Should You Buy?

Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG)’s stock price were up 3.2% during mid-day trading on Thursday . The stock traded as high as $29.90 and last traded at $28.91. Approximately 1,448,229 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 1,243,931 shares. The stock had previously closed at $28.02.

Direxion Daily FTSE China Bear 3X Shares Stock Performance

The stock has a 50 day moving average price of $28.13 and a two-hundred day moving average price of $25.47.

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

Large investors have recently made changes to their positions in the company. 1248 Management LLC increased its stake in shares of Direxion Daily FTSE China Bear 3X Shares by 200.0% during the third quarter. 1248 Management LLC now owns 1,200 shares of the company’s stock worth $26,000 after purchasing an additional 800 shares during the period. SBI Securities Co. Ltd. boosted its holdings 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 in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily FTSE China Bear 3X Shares in the 2nd quarter valued at $135,000. IMC Chicago LLC acquired a new stake in shares of Direxion Daily FTSE China Bear 3X Shares during the 4th quarter valued at $302,000. Finally, Renaissance Technologies LLC bought a new position in Direxion Daily FTSE China Bear 3X Shares during the 4th quarter worth $485,000.

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.