Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $47.06 and traded as low as $44.76. Direxion Daily FTSE China Bull 3X Shares shares last traded at $45.66, with a volume of 1,240,289 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The company has a market cap of $949.27 million, a price-to-earnings ratio of 8.49 and a beta of 0.93. The business’s fifty day moving average price is $45.20 and its 200 day moving average price is $47.06.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at about $4,128,000. Jump Financial LLC bought a new stake in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at approximately $4,255,000. Virtu Financial LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter valued at approximately $2,935,000. Ping Capital Management Inc. increased its position in Direxion Daily FTSE China Bull 3X Shares by 1,040.0% during the 2nd quarter. Ping Capital Management Inc. now owns 57,000 shares of the exchange traded fund’s stock valued at $2,336,000 after purchasing an additional 52,000 shares during the period. Finally, Optiver Holding B.V. bought a new position in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $2,076,000.

About Direxion Daily FTSE China Bull 3X Shares

Direxion Daily China Bull 3x Shares ETF (the Fund) seeks daily investment results of 300% 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.