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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $31.36, but opened at $29.77. Direxion Daily FTSE China Bull 3X Shares shares last traded at $30.15, with a volume of 964,041 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The business has a 50-day moving average of $33.83 and a 200-day moving average of $40.37. The firm has a market cap of $664.10 million, a price-to-earnings ratio of 8.49 and a beta of 1.07.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at about $43,000. Bank of America Corp DE increased its position in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% in the second quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock valued at $128,000 after acquiring an additional 800 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at about $223,000. Parallel Advisors LLC increased its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.0% in the third quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock valued at $288,000 after acquiring an additional 300 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at about $299,000.

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.