Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) Stock Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Direxion Daily FTSE China Bear 3X ETF (NYSEARCA:YANG) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred 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 changing hands.

Direxion Daily FTSE China Bear 3X ETF Trading Down 0.1%

The stock’s fifty day simple moving average is $32.09 and its 200 day simple moving average is $29.59.

Institutional Investors Weigh In On Direxion Daily FTSE China Bear 3X ETF

A hedge fund 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% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,400 shares of the company’s stock after purchasing an additional 35,100 shares during the period. Renaissance Technologies LLC owned 1.34% of Direxion Daily FTSE China Bear 3X ETF worth $1,585,000 at the end of the most recent reporting period.

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.