Shares of Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $34.60 and last traded at $32.91, approximately 28,549 shares changed hands during trading. A decline of 96% from the average daily volume of 796,298 shares. The stock had previously closed at $34.77.
The stock has a fifty day moving average price of $40.43 and a two-hundred day moving average price of $44.14.
Hedge funds have recently bought and sold shares of the business. UBS Group AG acquired a new stake in Direxion Daily FTSE China Bear 3X Shares during the first quarter valued at approximately $95,000. SG Americas Securities LLC acquired a new stake in shares of Direxion Daily FTSE China Bear 3X Shares during the 1st quarter worth approximately $161,000. Morgan Stanley grew its holdings in Direxion Daily FTSE China Bear 3X Shares by 1,764.8% in the 1st quarter. Morgan Stanley now owns 15,012 shares of the company’s stock worth $681,000 after buying an additional 14,207 shares in the last quarter. Finally, Simplex Trading LLC bought a new position in Direxion Daily FTSE China Bear 3X Shares during the 1st quarter valued at $700,000.
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.
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