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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $38.22, but opened at $35.27. Direxion Daily FTSE China Bull 3X Shares shares last traded at $34.89, with a volume of 8,963,865 shares.

Direxion Daily FTSE China Bull 3X Shares Stock Down 14.1 %

The business has a fifty day moving average of $27.59 and a 200 day moving average of $25.01. The firm has a market cap of $1.47 billion, a P/E ratio of 4.13 and a beta of 2.93.

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

Several large investors have recently bought and sold shares of YINN. Covestor Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter worth about $33,000. Chilton Capital Management LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth approximately $56,000. Gateway Advisory LLC lifted its stake in Direxion Daily FTSE China Bull 3X Shares by 20.0% in the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after buying an additional 3,000 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at approximately $277,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth $281,000.

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.