Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Shares Gap Up – Still a Buy?

Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $50.70, but opened at $52.23. Direxion Daily FTSE China Bear 3X Shares shares last traded at $51.90, with a volume of 529,627 shares changing hands.

Direxion Daily FTSE China Bear 3X Shares Stock Up 1.1 %

The stock has a fifty day moving average of $68.32 and a 200-day moving average of $1,357.43.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Direxion Daily FTSE China Bear 3X Shares during the fourth quarter worth about $145,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Direxion Daily FTSE China Bear 3X Shares in the 3rd quarter valued at approximately $206,000. TB Alternative Assets Ltd. acquired a new stake in shares of Direxion Daily FTSE China Bear 3X Shares in the 3rd quarter valued at approximately $866,000. Finally, JPMorgan Chase & Co. bought a new position in Direxion Daily FTSE China Bear 3X Shares during the 3rd quarter worth approximately $3,767,000.

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.