Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading Down 7.3% – Should You Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) dropped 7.3% on Friday . The company traded as low as $39.74 and last traded at $40.76. Approximately 2,112,176 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 7,555,414 shares. The stock had previously closed at $43.98.

Direxion Daily FTSE China Bull 3X Shares Trading Down 7.2 %

The stock has a market cap of $1.86 billion, a PE ratio of 12.60 and a beta of 1.06. The firm has a fifty day simple moving average of $32.20 and a two-hundred day simple moving average of $30.58.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Formidable Asset Management LLC bought a new position in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at $279,000. Cantor Fitzgerald L. P. purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth about $284,000. Raffles Associates LP bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter valued at about $279,000. Two Sigma Securities LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter valued at about $647,000. Finally, Jump Financial LLC lifted its position in Direxion Daily FTSE China Bull 3X Shares by 698.0% in the 4th quarter. Jump Financial LLC now owns 238,375 shares of the exchange traded fund’s stock worth $6,660,000 after buying an additional 208,503 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.