Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – What’s Next?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price gapped down prior to trading on Friday . The stock had previously closed at $28.13, but opened at $26.22. Direxion Daily FTSE China Bull 3X Shares shares last traded at $26.09, with a volume of 3,856,873 shares.

Direxion Daily FTSE China Bull 3X Shares Trading Down 7.4 %

The company has a market cap of $1.17 billion, a P/E ratio of 4.13 and a beta of 2.93. The business’s 50 day simple moving average is $33.75 and its 200 day simple moving average is $27.21.

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

Large investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% in the third quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after purchasing an additional 1,400 shares during the last quarter. Covestor Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth approximately $33,000. Gateway Advisory LLC boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% during the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after purchasing an additional 3,000 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at about $277,000. Finally, Quadrature Capital Ltd bought a new position in Direxion Daily FTSE China Bull 3X Shares in the first quarter worth approximately $281,000.

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.