Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $29.57 and traded as low as $28.42. Direxion Daily FTSE China Bear 3X ETF shares last traded at $29.27, with a volume of 1,569,250 shares trading hands.

Direxion Daily FTSE China Bear 3X ETF Price Performance

The company’s 50 day simple moving average is $32.09 and its two-hundred day simple moving average is $29.57.

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

An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission. The fund owned 54,400 shares of the company’s stock after acquiring an additional 35,100 shares during the quarter. Renaissance Technologies LLC owned approximately 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.

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.