Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Sets New 52-Week Low – Time to Sell?

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) reached a new 52-week low during trading on Wednesday . The stock traded as low as $27.45 and last traded at $27.82, with a volume of 385808 shares changing hands. The stock had previously closed at $28.60.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a market capitalization of $562.06 million, a P/E ratio of 8.49 and a beta of 1.00. The firm’s 50 day simple moving average is $32.73 and its two-hundred day simple moving average is $38.21.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

Several institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased 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 during the period. Bank of America Corp DE boosted its stake 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 valued at $128,000 after purchasing an additional 800 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the fourth quarter valued at approximately $43,000. Flow Traders U.S. LLC boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 5.7% during 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. grew its holdings 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 worth $384,000 after purchasing an additional 3,341 shares during the last quarter.

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.