Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) Shares Gap Down – Here’s Why

Shares of Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) gapped down prior to trading on Friday. The stock had previously closed at $24.78, but opened at $23.34. Direxion Daily FTSE China Bull 3X ETF shares last traded at $23.3640, with a volume of 949,012 shares trading hands.

Direxion Daily FTSE China Bull 3X ETF Price Performance

The company has a fifty day moving average price of $28.65 and a 200 day moving average price of $29.85. The company has a market capitalization of $528.79 million, a P/E ratio of 8.49 and a beta of 1.01.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Direxion Daily FTSE China Bull 3X ETF stock. Group One Trading LLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 38,575 shares of the exchange traded fund’s stock, valued at approximately $1,266,000. Group One Trading LLC owned 0.18% of Direxion Daily FTSE China Bull 3X ETF at the end of the most recent quarter.

About Direxion Daily FTSE China Bull 3X ETF

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.