Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) Stock Price Up 1% – Time to Buy?

Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG)’s share price was up 1% during trading on Thursday. The stock traded as high as $31.60 and last traded at $31.35. Approximately 501,376 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,033,751 shares. The stock had previously closed at $31.03.

Direxion Daily FTSE China Bear 3X ETF Price Performance

The business has a 50 day moving average price of $29.15 and a two-hundred day moving average price of $30.07.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Direxion Daily FTSE China Bear 3X ETF stock. Renaissance Technologies LLC raised its stake in shares of Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) by 181.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,400 shares of the company’s stock after buying an additional 35,100 shares during the quarter. Renaissance Technologies LLC owned about 1.34% of Direxion Daily FTSE China Bear 3X ETF worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Direxion Daily FTSE China Bear 3X ETF

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.