Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Stock Price Cross Below Two Hundred Day Moving Average – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $46.34 and traded as low as $33.88. Direxion Daily FTSE China Bull 3X Shares shares last traded at $34.22, with a volume of 1,261,357 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Stock Down 1.7%

The stock has a market cap of $711.43 million, a price-to-earnings ratio of 8.49 and a beta of 0.93. The company has a 50 day simple moving average of $42.89 and a 200 day simple moving average of $46.34.

Hedge Funds Weigh In On Direxion Daily FTSE China Bull 3X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth $299,000. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth $8,411,000. HRT Financial LP bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at $692,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at $43,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 58.8% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,022 shares of the exchange traded fund’s stock valued at $384,000 after acquiring an additional 3,341 shares in the last quarter.

Direxion Daily FTSE China Bull 3X Shares Company Profile

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.