Shares of Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) shot up 9% on Wednesday . The stock traded as high as $66.10 and last traded at $66.03, 861,731 shares were traded during mid-day trading. An increase of 113% from the average session volume of 404,867 shares. The stock had previously closed at $60.59.

The firm has a 50-day moving average of $50.82.

An institutional investor recently bought a new position in Direxion Daily FTSE China Bear 3X Shares stock. Morgan Stanley purchased a new stake in shares of Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,432 shares of the company’s stock, valued at approximately $479,000. Morgan Stanley owned about 0.60% of Direxion Daily FTSE China Bear 3X Shares at the end of the most recent reporting period.

Direxion Daily FTSE China Bear 3X Shares Company Profile (NYSEARCA:YANG)

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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