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

Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) shares gapped up prior to trading on Monday . The stock had previously closed at $50.59, but opened at $60.53. Direxion Daily FTSE China Bear 3X Shares shares last traded at $63.93, with a volume of 8,576,355 shares.

Direxion Daily FTSE China Bear 3X Shares Stock Up 24.5 %

The stock’s 50 day moving average price is $44.41 and its 200-day moving average price is $373.74.

Direxion Daily FTSE China Bear 3X Shares Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a $0.2551 dividend. The ex-dividend date was Tuesday, March 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of YANG. Elequin Capital LP purchased a new stake in Direxion Daily FTSE China Bear 3X Shares during the 4th quarter valued at about $81,000. Geller Advisors LLC purchased a new position in Direxion Daily FTSE China Bear 3X Shares in the 4th quarter worth approximately $444,000. Headlands Technologies LLC bought a new stake in Direxion Daily FTSE China Bear 3X Shares in the fourth quarter valued at approximately $218,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily FTSE China Bear 3X Shares during the fourth quarter valued at approximately $2,325,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily FTSE China Bear 3X Shares in the fourth quarter worth approximately $145,000.

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.