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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $34.61, but opened at $32.59. Direxion Daily FTSE China Bull 3X Shares shares last traded at $32.85, with a volume of 3,083,722 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Stock Down 3.4 %

The stock has a 50-day moving average of $30.46 and a 200 day moving average of $26.11. The stock has a market cap of $1.50 billion, a PE ratio of 4.13 and a beta of 2.93.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Several hedge funds have recently made changes to their positions in YINN. Covestor Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth about $33,000. Chilton Capital Management LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at approximately $56,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the second quarter worth $277,000. Quadrature Capital Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth $281,000. Finally, Gateway Advisory LLC grew its stake in shares of 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.

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.