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 prior to trading on Friday . The stock had previously closed at $30.05, but opened at $29.09. Direxion Daily FTSE China Bull 3X Shares shares last traded at $29.12, with a volume of 1,071,468 shares traded.

Direxion Daily FTSE China Bull 3X Shares Stock Down 2.5 %

The stock has a market cap of $1.31 billion, a P/E ratio of 4.13 and a beta of 2.93. The company has a 50-day simple moving average of $30.51 and a two-hundred day simple moving average of $27.40.

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

A number of hedge funds have recently modified their holdings of the company. Covestor Ltd purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the third quarter worth about $88,000. Gateway Advisory LLC lifted its holdings in Direxion Daily FTSE China Bull 3X Shares by 20.0% in the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $402,000 after buying an additional 3,000 shares during the period. Strategic Wealth Investment Group LLC bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter worth approximately $860,000. Barclays PLC grew its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% in the 3rd quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after buying an additional 1,400 shares during the last quarter. Finally, Flow Traders U.S. LLC increased its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% during the third quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock valued at $1,846,000 after buying an additional 28,404 shares during the period.

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.