Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – What’s Next?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down before the market opened on Thursday . The stock had previously closed at $32.82, but opened at $31.11. Direxion Daily FTSE China Bull 3X Shares shares last traded at $31.08, with a volume of 962,698 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Trading Down 4.8%

The business’s 50 day moving average is $34.11 and its two-hundred day moving average is $40.82. The company has a market cap of $686.75 million, a PE ratio of 8.49 and a beta of 1.07.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter valued at $43,000. Bank of America Corp DE lifted 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 valued at $128,000 after buying an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth $223,000. Parallel Advisors LLC lifted its stake in Direxion Daily FTSE China Bull 3X Shares by 6.0% in the 3rd quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock worth $288,000 after purchasing an additional 300 shares in the last quarter. Finally, Great Hill Capital LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter worth $311,000.

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.