Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – Time to Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $34.13, but opened at $32.64. Direxion Daily FTSE China Bull 3X Shares shares last traded at $32.00, with a volume of 1,491,063 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The firm has a market cap of $649.06 million, a price-to-earnings ratio of 8.49 and a beta of 0.93. The business’s 50 day moving average price is $41.39 and its 200 day moving average price is $45.82.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the second quarter valued at $4,128,000. XTX Topco Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the second quarter worth about $226,000. Flow Traders U.S. LLC raised its position in shares of Direxion Daily FTSE China Bull 3X Shares by 76.1% in the second quarter. Flow Traders U.S. LLC now owns 20,197 shares of the exchange traded fund’s stock worth $828,000 after acquiring an additional 8,725 shares during the period. Bank of America Corp DE boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% during the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock worth $128,000 after acquiring an additional 800 shares in the last quarter. Finally, Ping Capital Management Inc. boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 1.8% during the 3rd quarter. Ping Capital Management Inc. now owns 58,000 shares of the exchange traded fund’s stock worth $3,149,000 after acquiring an additional 1,000 shares in the last quarter.

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.