Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Stock Price Up 0.8% – Here’s Why

Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) shares rose 0.8% during mid-day trading on Thursday . The stock traded as high as $40.56 and last traded at $39.64. 729,556 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,183,373 shares. The stock had previously closed at $39.31.

Direxion Daily FTSE China Bear 3X Shares Stock Performance

The business’s 50-day simple moving average is $30.85 and its 200 day simple moving average is $27.53.

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

Large investors have recently added to or reduced their stakes in the business. 1248 Management LLC lifted its stake in Direxion Daily FTSE China Bear 3X Shares by 200.0% in 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 last quarter. JPMorgan Chase & Co. bought a new position in shares of Direxion Daily FTSE China Bear 3X Shares during the second quarter valued at about $135,000. IMC Chicago LLC bought a new position in shares of Direxion Daily FTSE China Bear 3X Shares during the fourth quarter valued at about $302,000. Renaissance Technologies LLC purchased a new position in shares of Direxion Daily FTSE China Bear 3X Shares in the fourth quarter worth about $485,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Direxion Daily FTSE China Bear 3X Shares in the fourth quarter worth about $513,000.

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.