Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Sets New 12-Month Low – Here’s Why

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) reached a new 52-week low during trading on Thursday . The company traded as low as $29.77 and last traded at $30.31, with a volume of 2982882 shares traded. The stock had previously closed at $31.36.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The stock’s 50-day simple moving average is $33.71 and its 200 day simple moving average is $40.24. The stock has a market capitalization of $666.52 million, a P/E ratio of 8.49 and a beta of 1.07.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YINN. Pilgrim Partners Asia Pte Ltd bought 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 boosted 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 period. Wealth Enhancement Advisory Services LLC bought 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 boosted 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 period. Finally, Great Hill Capital LLC bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at about $311,000.

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.