Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Sets New 12-Month Low – Time to Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $24.01 and last traded at $24.01, with a volume of 211255 shares traded. The stock had previously closed at $25.84.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a market capitalization of $538.54 million, a price-to-earnings ratio of 8.49 and a beta of 1.00. The stock has a 50 day moving average price of $32.41 and a two-hundred day moving average price of $37.92.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its position 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 valued at $288,000 after acquiring an additional 300 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% during the second quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock worth $128,000 after purchasing an additional 800 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth about $43,000. Flow Traders U.S. LLC boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 5.7% in the third quarter. Flow Traders U.S. LLC now owns 21,349 shares of the exchange traded fund’s stock valued at $1,159,000 after purchasing an additional 1,152 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 58.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,022 shares of the exchange traded fund’s stock valued at $384,000 after purchasing an additional 3,341 shares during the period.

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.